Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake By Cointelegraph

Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

Cryptocurrency May 13, 2022 01:20AM ET

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Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood (NASDAQ:HOOD).

The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain.

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Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

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