Explore the latest developments concerning Robinhood Sinks 12%,.
Robinhood Sinks 12%, SoFi Tumbles 9%, Affirm Drops 8% as Bitcoin Slides and Democratic Congress Weighs on Fintech
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Retail-facing fintech stocks are taking some of the market’s worst losses as a crypto slide and a political shift in Washington both weigh on the group. Shares of Robinhood Markets (NASDAQ:HOOD | HOOD Price Prediction) are at $76.91, down 12% in afternoon trading. That drop puts Robinhood at the front of a selloff aimed at the most growth-oriented names in consumer finance.
SoFi Technologies (NASDAQ:SOFI) stock is at $15.79, down 9%. Meanwhile, Affirm Holdings (NASDAQ:AFRM) stock is at $69.60, down 8%. Both lenders are falling much harder than larger payments companies, and that tells you a lot about what sellers are going after.
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