Robinhood Markets has dropped a huge amount since it’s IPO in July 2020.

Underwritten by Goldman Sachs and J.P. Morgan, Robinhood offered 55,000,000 shares at $38 a share in the Initial Public Offering (IPO.) At one point in August 2020, just days after it began trading, Robinhood (HOOD) traded as high as $85 a share. It has since fallen to the point that it is not even a teenager any longer. It’s a stunning loss of market cap and a bad sign of what’s to be in the world of commission-free stock trading.