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Robinhood Markets (NASDAQ:HOOD), a large holder of bitcoin (BTC-USD), saw its stock slide 5.6% in Friday midafternoon trading as bitcoin (BTC-USD) continued to retreat from a two-year high.
Bitcoin (BTC-USD) dropped 5.1% to $43.9K at 3:56 p.m. ET, after reaching as high as $49K on Thursday, when the first spot bitcoin exchange-traded funds went live in the U.S.
In the past five trading sessions, Robinhood (HOOD) shares fell nearly 10%, outpaced by bitcoin’s (BTC-USD) 0.6% dip.
SA’s Quant system rating and the average sell-side analyst both view HOOD as a Hold. The average SA analyst, meantime, rates HOOD as a Buy.
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