Robinhood Falls After Warning of Expenses Tied to Trump Accounts

Robinhood Markets Inc.’s stock slumped Tuesday after the firm said expenses jumped 18% in the first quarter and warned that its “Trump account” push would require an additional $100 million investment.

Shares of the online brokerage dropped 6.9% to $76.44 in extended trading at 5:22 p.m. in New York. Revenue climbed 15% to $1.07 billion, according to a statement.