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Whatever your view on $HOOD being a casino vs a financial platform, the following observation is stunning to me: If we include January’s estimated loss of $(4-5)B, Robinhood’s customers have made very little money since the Meme Stock Era ended (6/30/21)! https://t.co/HR5xtC2wdC (2) The S&P Total Return Index since then is up over 70%. An actual bear market would be devastating to their customer base. $HOOD (3) And given their options/crypto exposure, it’s safe to say the $HOOD customer base was probably leveraged long over this five year period. Yikes.