Robinhood is trading 4.6% down now at $96.91 as investors react to fresh concerns regarding competition and capital structure.
- Reports that Meta is building an Arena prediction markets app have raised fears of long-term rivalry in the space.
- A $2 billion convertible note offering is weighing on the stock due to concerns over potential equity dilution.
- Selling pressure is being exacerbated by profit-taking following a strong prior run in the share price.