Robinhood shares are heading for a brutal weekly loss as the once-red-hot trades in bitcoin and AI stocks that powered its growth lose momentum.

Shares of the trading platform slid 10.1% on Thursday, extending a sharp decline that has pushed the stock down 13.3% for the week. The slump has erased more than 27% of Robinhood's value so far in November, a dramatic pullback after a strong run earlier this year. The stock turned lower again in morning trading Friday.

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The latest slide reflects a sharp reversal in the risk-hungry investment activity Robinhood relies on. The company's core business is closely tied to retail investors pouring into speculative corners of the market, particularly cryptocurrency and buzzy artificial intelligence stocks stocks.

Those trades

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