'Ghost town' fears send Robinhood sliding as trading frenzy fizzles

By Sruthi Shankar and Medha Singh
FILE PHOTO The logo of Robinhood Markets Inc. is seen at a pop-up event on Wall Street after the companys IPO in New York City U.S. July 29 2021. REUTERSAndrew Kelly

FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly

(Reuters) - Shares of Robinhood Markets Inc fell 9% on Thursday as the fee-free broker's warning about a slowdown in trading raised concerns about its reliance on a pack of small-time investors to sustain a frenzy in stocks, options and cryptocurrencies.

In its first results as a public company on Wednesday, Robinhood said the crypto trading mania this year helped double its second-quarter revenue, but also warned it expected retail investors who trade on its popular app to take a breather in the third quarter.

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