/markets

News and resources on capital markets, exchanges, trade execution and post-trade settlement.

Robinhood stock price surges

Following a lacklustre debut on the Nasdaq last week, Robinhood saw its share price soar on Wednesday, briefly hitting $85, up over 80% on the previous day's close.

  0 Be the first to comment

Robinhood stock price surges

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Despite a flurry of hype and a lower than expected pricing of $38, Robinhood saw its shares drop by several percentage points in its first day of trading on Friday.

However, yesterday the stock trading app saw its price recover, closing at $46.80, well above the IPO price.

On Wednesday the price gains accelerated, hitting $85 before plummeting back down to around $60 at 10:30am EST - still more than 25% up on the previous day's close and up around 75% in the past five days.



The cause of the volatility is unclear but it appears that Robinhood is the latest stock to experience a Reddit-led retail investor rally.

Earlier this year, the company drew the ire of these investors when it put trading restrictions on stocks, such as GameStop, that the Reddit community was targeting.

Sponsored [Webinar] AI in the wrong hands: Exploring modern cybersecurity concerns

Related Company

Channels

Comments: (0)

[Webinar] A New Era of KYC - Why it’s time to redefine Client OnboardingFinextra Promoted[Webinar] A New Era of KYC - Why it’s time to redefine Client Onboarding