Commission-free retail brokerage Robinhood posted a net loss of $423 million or $0.49 per share in the three months ended December. A year earlier, the company posted a net income of $7 million or $0.01 per share. Shares of Robinhood sank as much as 15% to $9.98 in extended trading following results. The share price at its IPO in July last year was $38, and its record high in August was $85.

Meme Stock Revolution in 2021? Some smart guys behind the Reddit WallStreetBets subreddit and their community (more than 11.4 million members) pushed some penny stocks and transformed them into meme stocks. It was a wild ride for the shares of GameStop and AMC. These two stocks caught fire in early 2021 as Meme Stock Revolution took off.