Alphabet dumps more than 90% of its stake in Robinhood

▤ Summary

Google parent Alphabet has pared back large positions in multiple publicly traded firms, including the trading platform Robinhood , the gene testing company 23andMe and language learning startup Duolingo . The company sold off more than 4.3 million shares of the fintech stock during the period ended June 30. The company saw a surge of users during the Covid pandemic, drawn in by the flourishing tech trade. But the company was also at the center of a scandal over its role in the "meme stock" mania and retail trading outrage at payment for order flow. Monthly active users, a key benchmark for Wall Street, remain depressed quarter-over-quarter and year-over-year.

▦ Linked Companies

Robinhood Markets, Inc.

$1M to $5M