Robinhood Fizzles After Splashy Public Offering

It has been a rough few weeks for Robinhood Markets Inc.’s stock.

Shares of the retail-trading platform have tumbled lately and reached an all-time intraday low this week. Robinhood’s stock has been trading for more than four weeks below its initial public offering price of $38 a share. It closed Thursday at $21.91, a 42% decline from its IPO price and a 74% drop from its intraday high of $85 reached earlier this year.