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Robinhood Markets Tumbles 9 Percent On Wider-than-expected Q3 Loss

Shares of financial services company Robinhood Markets, Inc. (HOOD) fell 9 percent on Wednesday's trading as the company posted wider-than-expected loss in the third quarter.

In the third quarter, net loss was $1.32 billion, or $2.06 per share, compared with net loss of $11 million, or $0.05 per share in the same period last year. Analysts were looking for net loss of $1.37 per share in the period.

Total revenues climbed 35 percent to $365 million from $270 million in the third quarter of 2020.

Currently at $35.99, the stock has traded between $33.25 and $85.00 during the past 52 weeks.

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