Alphabet offloads nearly 90% of its stake in trading app Robinhood

Alphabet offloads nearly 90% of its stake in trading app Robinhood

FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photo

Google-parent Alphabet said on Friday it had slashed its stake in Robinhood Markets by nearly 90%, days after the trading app said it had turned a profit for the first time as a public company.

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