Why Robinhood Markets Plunged on Monday

Shares of new-aged online brokerage Robinhood Markets (NASDAQ: HOOD) fell hard on Monday, down 8.7% as of 1:00 p.m. EDT.

There wasn't any company-specific news today, but the online brokerage was down in line with the weekend decline in Bitcoin (OTC: BTC) and other cryptocurrencies, which trade 24/7.

Robinhood has a higher-than-average percentage of its customers trading cryptocurrencies compared to other assets, and its users also have a reputation for trading more risky instruments, such as options. So when cryptocurrencies and other speculative assets crashed on Friday and then continued over the weekend, Robinhood stock fell in sympathy.

Source Fool.com