The stock market was booming, and monthly active users more than doubled year-over-year, topping 21 million. The retail trading army was flexing its muscle, and Robinhood was poised to cash in. Robinhood is slashing hundreds of jobs as inflation and recession fears send stock and crypto prices plunging back down to Earth. "Customers are seeing this high inflation along with high interest rates, bear markets [in] stocks and a crypto winter." That sparked speculation that traders coordinating on social media were involved in christening another meme stock.

Source: CNN August 05, 2022 02:20 UTC