The new date is April 28, 2022.
After the company reported dismal first quarter earnings which showed that the platform lost over a million users and revenue plummeted, the company's shares tanked 8%.
There is a CEO and a co-founder of a startup.
After the company's first quarter earnings report came in well below analyst expectations, the shares of the company plunged to new all-time lows.
The company's revenue fell to $299 million from $522 million a year ago.
Transaction-based revenues plunged nearly 50% from the same period last year, amid a marked slowdown in options,cryptocurrencies and stock trading from users on its platform.
The monthly active users of Robinhood decreased from 17 million in December to 15.9 million in March.
The decline in users with lower balances was blamed by the company for the high trading volumes and account sign-ups in early 2021.
The company will no longer provide revenue guidance to investors, but will instead report operational results month-by-month.
The stock of Robinhood went public at $38 per share in July of 2021, but is currently trading at around $10 per share, down 45% from this time last year.
The stock fell on the news that the company would lay off 9% of its workforce.
The company has a huge cash pile of $6.2 billion, which should keep it in a stable financial position, according to the CEO.
As the stock hits a record low amid layoffs, the problems could get worse.
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