Robinhood Roller Coaster Continues on Wall Street Fintech Shoots 81%
After sinking in the debut, bonds reached this Wednesday at 85 dollars (up 81%), well above the 38 dollars of the IPO.
Robinhood’s arrival on Wall Street has been a rollercoaster ride. Fintech shares had the worst debut ever for a company of its size, but subsequent sessions have been reversals. After a 24% gain on Tuesday, Robinhood soars 81% in opening US squares.
What could have been a moment of celebration among amateur investors and validation of the rush to “meme stocks” has turned out to be a failure. The brokerage firm known for its run by this group of retail investors fell more than 8% on Thursday to $34.82 a share, down from the $38 it debuted on the US stock exchange.
But this value is already far. Throughout Tuesday, the bonds returned to trading above the initial public offering (IPO) price, having closed the session with a gain of 24%. This Wednesday, they reached 85 dollars (with an increase of 81%) at the opening, being an hour and a half later to rise 71% at 63.32 dollars per share.
Robinhood sinks more than 8% in the stock market. It’s the worst debut ever for a company of this size
Volatility is marking trading, with nearly 40 million bonds changing hands. This is the highest value after the purchase and sale of 102.5 million shares on the day of the IPO.