Robinhood CEO Says Market Perception is 'Lagging Reality'

Robinhood CEO Vlad Tenev says market perception is 'lagging reality' about his company's financial profile. The firm now has 11 business lines generating $100 million or more in annual revenue, and a few more are close to reaching that threshold.

Tenev made these comments during an interview with CNBC, where he also discussed the company's plan to diversify beyond cryptocurrency and equities trading. He noted that the recent uptick in expenditure due to the initiation of Trump Accounts will broaden Robinhood's user base and revenue streams further.

The stock took a dive of over 13.5% in morning trade, wiping out April gains if the losses hold till market close. The shares were among the top trending tickers on Stocktwits at the time of writing, with retail sentiment improving to 'bullish' from 'neutral' over the past day.