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Robinhood’s Stock Is Now Worth Less Than Its Cash on Hand

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by COINS NEWS 157 Views

https://finance.yahoo.com/news/robinhood-stock-now-worth-less-191407302.html

After posting more than $3 billion of losses since its initial public offering in late July, Robinhood’s shares have plunged more than 80%, cutting its market capitalization to as low as $5.99 billion. The firm had $6.19 billion of cash and cash equivalents at the end of the first quarter.

Two words that describe this nicely: Poetic Justice.

This company is SO worthless that it has a NEGATIVE value when you take out all its cash.

submitted by /u/ChiTownBob
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