More Cautious Trading Knocks Brokerage Stocks—Heard on the Street
Interactive Brokers said it saw record trading volume as the markets whipsawed in April. Shares of the online brokerage firm, which serves a range of customers including hedge funds, financial advisors and retail traders, tumbled Wednesday, following its late-Tuesday earnings report and analyst call. Shares of Robinhood Markets, the online retail trading platform, were also hit hard.