Robinhood Stock Sinks as Promotions Lead To Weaker-Than-Expected Results

Key TakeawaysRobinhood Markets missed third-quarter earnings and revenue estimates because of promotions to gain new customers.The online brokerage expects the costs for promotions to grow in the current quarter.Shares of Robinhood Markets fell 15% Thursday morning but are still up almost 90% this year. Robinhood Markets (HOOD) shares sank 15% Thursday, a day after the online brokerage posted worse-than-expected results as a promotion to get more customers impacted performance. The company posted third-quar ...