Robinhood Stock Dips After Data Security Incident

The security has more than halved from its all-time highs

Deputy Editor
Nov 9, 2021 at 11:11 AM
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The shares of online trading platform Robinhood Markets Inc (NASDAQ:HOOD) were last seen down 3.1% to trade at $36.82, following a data security incident. The company said a third party launched an attack on Nov. 3 that involved around 7 million customers' data. Robinhood noted the attack has since been contained, and believes "no Social Security numbers, bank account numbers, or debit card numbers were exposed." 

Since going public in late July, Robinhood stock has shed 31.5%. Pressure from the 20-day moving average has kept a tight lid on shares over the past month, with a short term ceiling forming at the $38 level. And while HOOD is coming off its first weekly win in six weeks, the equity has more than halved from its Aug. 4 all-time high of $85.

Analysts are still split towards Robinhood stock, with five recommending  a "strong buy," three a tepid "hold," and one a "strong sell." Meanwhile, the 12-month consensus target price of $48.94 is a 32.7% premium to current levels.




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