Robinhood Backed the Wrong Crypto ($HOOD)

Yesterday afternoon, the infamous retail brokerage Robinhood ($HOOD) reported 21Q3 earnings which fell well below Wall St. Expectations.
Of note, HOOD saw a -77% QoQ decline in revenue from crypto trading, down to $51M from $233M in the prior quarter.
Underlying Mentions clearly predicted this disaster – Consumer Buzz relating to Robinhood’s cryptocurrency trading services has plummeted by -46% QoQ on a 90-day moving average.

The hype surrounding Dogecoin ($DOGE) played a major role in driving HOOD’s massive crypto revenues last quarter -- This foray into the crypto space was destined for a reality check.