Meme stocks have the shelf life of regular memes?
, they give sequential figures, noting that this quarter was better than last quarter. True, but not the point!
Robinhood was the figurehead of the meme stock trading revolution, which reached public consciousness through the GameStop debacle. But as interest rates have risen and pandemic restrictions have eased, retail traders seem to have lost interest in the market. Monthly active users decreased to 14 million in the second quarter, which the press release noted was a 10 percent decline from the first quarter. It is also a 33 percent decline fromAssets under custody declined by a third from the first quarter, the press release noted, to $64.2 billion. In the second quarter of 2021, the company had $102 billion in assets under custody.
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