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Robinhood Surges In Wild Trading; Reaches New Post-IPO High

Stock MarketsAug 04, 2021 12:28PM ET
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By Dhirendra Tripathi

Investing.com – Robinhood (NASDAQ:HOOD) stock surged as much as 80% on Wednesday in a wild U.S. trading session that sent it to post-IPO highs.

Shares closed up 50%, at $70.39 but then turned lower in the after-hours market, down 2%. Still, during regular hours they traded as high as $85.

Already, the stock closed 24% higher Tuesday after it breached its IPO price of $38 for the first time since listing last week.

After listing at its issue price, the stock had closed 8% lower on debut. The shares were offered in the $38 to $42 range but were eventually issued at the lower end.

Besides the app’s popularity amongst casual and retail investors, the company’s initial public offering was a much-discussed event for other reasons as well.

No other company had previously reserved as many shares for its own customers.  

The online brokerage sold as much as 25% of its IPO shares to 301,573 of its retail customers, representing about 1.3% of the platform’s 22.5 million funded accounts.

Cathie Wood’s ARK Invest purchased 1.3 million shares of the company on listing and topped that up with 1.85 million shares the following day.

Robinhood Surges In Wild Trading; Reaches New Post-IPO High
 

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Comments (13)
Investing Man
Investing Man Aug 04, 2021 4:49PM ET
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Foolish people. Robinhood obliterated your opportunity when things were going good because it was going to hurt their friends. Imagine what will happen when things are going bad? You'll never get your money back from them.  Additionally, they aren't backed by requirements like banks... so you'll never get a single penny.
Aisha Mohamoud
Aisha Mohamoud Aug 04, 2021 4:49PM ET
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plz help me 😭😭 can I make Africa investing stock plz tell me
Mojo Snake
Mojo Snake Aug 04, 2021 4:49PM ET
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Lighten up Francis.... They are SIPC backed up to 500,000 which I am sure most of their customers don't exceed so nobody is losing any money.  Stop crying because you shorted it at $35 LOL
Dee Graham
Dee Graham Aug 04, 2021 4:49PM ET
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If you don't like the stock, don't buy it; problem solved
joe shep
joe shep Aug 04, 2021 4:14PM ET
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I just cashed in just over doubling up i bought 2 shares at $32 ea = $64 an cashed out at $134. I would have liked to stay in bc regaurless of the talk about robinhood an there bad practices i still beleive their worth more then $40.00 a share fundamentally . But i really needed that win so thats the name of the game anyway
JM AS
JM AS Aug 04, 2021 4:05PM ET
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They trying really hard huh
Nazar Mohammadnazar
Nazar Mohammadnazar Aug 04, 2021 3:29PM ET
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nazarmohammad
Jose Luis Salas
Jose Luis Salas Aug 04, 2021 3:26PM ET
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Yesterday stopped at $44 per share and today opened at $56. Today might stop at $70. At this pace tomorrow will open at $82 and might reach $100. Well, what do I know…I’m happy with my 500 shares at $38. I will not dump it just yet.
James Potts
James Potts Aug 04, 2021 2:59PM ET
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MEANIE STOCK!!!
Rul Buz
Rul Buz Aug 04, 2021 2:57PM ET
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Well another pump and dump stock people wont fall for it this time they learned from amc and gme when they pumped it hard then boom 200 dollar down in a day and retailers got absolutely massive losses robin hood back to original price is one to two weeks..
Zwe Win
Zwe Win Aug 04, 2021 2:55PM ET
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HOOD
Timothy Goodson
Timothy Goodson Aug 04, 2021 2:53PM ET
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crooks
Robin Blom
Robin Blom Aug 04, 2021 2:51PM ET
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"was a much-discussed event for other reasons as well." Well I guess I know what https://investing.com thinks about market manipulation.
Raju Ahuja
Raju Ahuja Aug 04, 2021 2:50PM ET
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Dont buy goi g down to $34
Lwin Htike
Lwin Htike Aug 04, 2021 2:49PM ET
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lwinhtikeaung
Lwin Htike
Lwin Htike Aug 04, 2021 2:49PM ET
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nice
 
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