One individual company that enjoys when markets are full of activity is Robinhood, but the investing platform hasn't had a good 12 months.
One year ago it was at the center of the GameStop saga, which - despite some negative press - led to a surge in users and revenue ahead of its own IPO. Retail traders were buying more complicated financial instruments like options, and eventually crypto assets.
But Robinhood's fortune has faded.
As GameStop mania subsided, the negative press lingered, and everything went into reverse for Robinhood. Last quarter the company revealed that active user numbers had started falling and that the company was making less from each user.
Those two things were a potent combination, and together contributed to a big reversal in the company's revenue, which dropped 35% last quarter. All of that has left Robinhood's share price in the low teens, down more than 81% from the highs of last summer.
