Bloomberg Tax
April 28, 2022, 12:00 PM

Robinhood Investors Brace for More Losses After Firm Cuts Jobs

Annie Massa
Annie Massa
Bloomberg News

Robinhood Markets Inc. dazzled investors with a vision for growth: Entice millions of traders to buy stocks for free, and then sell them on other financial products to be introduced down the line.

So far, that story is eluding the Menlo Park, California-based startup. User adoption has stalled, new offerings aren’t yet taking off, and investors are bracing for more losses when Robinhood reports first-quarter results late Thursday.

It’s already been a rocky week for the company. On Tuesday, it cut 9% of staff, roughly 340 employees. Customer experience and marketing were among the departments hit, according to people familiar ...