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Robinhood Jumps in Debut on Nasdaq, Then Loses Steam

Published 07/29/2021, 10:31 AM
Updated 07/29/2021, 12:27 PM

Investing.com -- The online brokerage Robinhood Markets Inc (NASDAQ:HOOD) began trading on Thursday in one of the most anticipated stock debuts of the year.

The company priced its initial public offering Wednesday night at $38 a share, giving the company a valuation of $35 billion. It opened at $38 and climbed more than 2% in initial trading but minutes later turned negative and was down nearly 6%.

The broker has been a favorite of retail traders in the so-called meme-stock trade this year but has also courted controversy over its business model. Most of Robinhood's revenue at the moment comes from selling customer trade orders to Wall Street firms for execution, or payment for order flow. That allows Robinhood to offer trading to customers for free but critics have raised questions about whether customers are getting the best price for their trades.

 

Latest comments

Robinhood is a scam. Look at all the law suites
different supermarkets have different prices, consumers choices
Meme stock 💰💰💰
hello
yes
they are trash, their stock will be trash. You'll see
blah bha
don't think so, I don't use it but a bunch of people I know do, and love it. I'm an e-trade and fidelity guy myself
Robinhood to the moon :p
Robinhood... steals from the poor and gives to the rich
an old story from all times
how? they don't charge retail investors.
order flow method charges other institutions
The lies you Analyst tell. How is $38 to $40.16 then down to $33 a jump?Just say they did a death dive and is now fighting to reach back to the surface. 🤣🤣
what a shock ....
Eishhh they blew my account like no body’s business……hope fr now they’ll chase level 16000
hi,,am new in this..how do it work am interested in this app
http://www.google.com
ok
this app really is best for watchlists. some good authors here. I don't trade here, don't think you can
I just enjoy that their stock symbol is "HOOD" 😂😂😂
$22.00 to $25.00 will buy
$12.50 or $6.50 I'll buy
Robinhood and its CEO are straight up caca and I would never join their app or buy their stock, for very obvious reasons. I have no clue how they remain in business let alone list on Nasdaq.
I love this article... Aged like milk.
Thanks
I hope RH gets shorted to *****
Factsssss
😭🙏
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