U.S. Stocks on the Move | Cryptocurrency trading revenue plunges 55% year-over-year, Robinhood (HOOD.US) falls over 4% in early trading.

Zhito Finance APP has learned that on Wednesday, Robinhood (HOOD.US) opened more than 4% lower, and as of press time, the decline narrowed to 2.6%. Since September 21, the stock has continued to fall, with a cumulative decline of more than 25%. In terms of news, Robinhood Markets announced its third-quarter financial results. Data showed that the company's total net revenue for the quarter reached $1.424 billion, a record high, up 12% year-over-year and up 9% quarter-over-quarter; net profit was $476 million, down 14% year-over-year and down 17% quarter-over-quarter; diluted earnings per share were $0.51, lower than $0.61 in the same period last year, down 16% year-over-year. Cryptocurrency trading revenue plunged 55% year-over-year to $120 million, becoming the main drag on the trading business.