Google-parent Alphabet offloads nearly 90% stake in trading app Robinhood

Google-parent Alphabet said on Friday it had slashed its stake in Robinhood Markets by nearly 90%, cutting its exposure to the trading app operator that has been grappling with a slowdown in its mainstay business.

Alphabet had reportedly invested in Robinhood when the latter was an unlisted startup, and it held over 4.9 million shares in the company as of the end of 2021.