Robinhood shares falls further amidst reluctance to list Shiba Inu

Robinhood shares declined 7% to $48 million, which accounts for 18.18% of the company’s total transaction-based revenue as a result of their reluctance to list Shiba Inu, Bloomberg Intelligence analyst Julie Chariell said.

To Chariell, ”that’s the one coin that they’re missing, everyone’s waiting for.” Meanwhile, Robinhood CEO Vlad Tenev has once again confirmed that the popular zero-fee trading app plans to expand its cryptocurrency offering when asked about Shiba Inu.

Tenev stopped short of specifically mentioning SHIB, but he says that the company is aware of a slew of requests to beef up the cryptocurrency lineup that currently includes only seven coins.  The Robinhood boss says that the company is engaging with regulators on that front in order not to list unregistered securities:

According to Forbes, the popular stock trading app reported earnings which came in slightly below Wall Street expectations: For the fourth quarter, revenue fell slightly from $365 million to $363 million, while Robinhood’s loss of 49 cents per share was wider than the 45 cent loss expected by analysts, according to Refinitiv.

On Thursday, the brokerage stock went down more than 70% off its initial public offering price in July 2021, with shares falling more than 30% alone this month.

 Truly no one can diminish the power of collective retail investors. We saw it twelve months ago thousands of retail investors banded together to bid up the stocks of a handful of ailing companies, notably the video game retailer GameStop and the movie theatre chain AMC.

Their collective actions sent those shares soaring, booking huge gains on paper and dealing heavy losses to hedge funds and to other professional investors who were betting against the companies.

Recall that Shiba Inu supporters in October are petitioning on Change.org for the trading platform to list the Shiba Inu token for trading. The petition garnered almost 400,000 signatures. This is the power of the Shib Army, as they are fondly called.

The petition, started by SHIB supporter Tristan Luke, explains that it “is designed to kindly request of Robinhood to please list Shiba Inu coin to trade,” adding: Dogecoin has been a huge success for Robinhood, and its investors.

We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2,000% in the last weeks.

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