Daily Brief: Robinhood’s results, Regulatory crackdown in China, and the Delta variant

Robinhood, China, Corona

Robinhood revealed its first-ever public results.

Robinhood’s stock dropped after its disappointing earnings announcement.

The company promised to expand outside of just cryptocurrencies, but profits were down.

Investors are worried about the future cash generation potential, as meme assets like $GME, $AMC, $DOGE are slipping in popularity among investors.

The Chinese stocks are under intense selling pressure due to regulatory crackdown.

According to Reuters, Beijing has given its approval for the strict new data privacy law to take effect on November 1st.

It caused the Hang Seng index to plummet to its lowest level since October, with a sharp fall in market sectors ranging from financial technology to education and gaming.

✅ As the Delta coronavirus variant spread rapidly, investors expect the US central bank to rein in its crisis-era stimulus measures in the coming months.

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