The scandalous application for trading with RobinHood shares recorded recorded when the stock exchange for NASDAQ technological firms. According to Bloomberg calculations, his debut became the worst among American companies of the same level.
The first trading session of the RobinHood shares fell below the IPO price of 8.4 percent and the trading closure cost 34.8 dollars – this is the worst result of 51 firms that attracted as much or more funds during primary placement. Previously, the Anti-Plaord was MF Global Holding – in 2007, its first bidding on the stock exchange was completed by a fall in the cost of shares by 8.2 percent.
In addition, the initial price of the RobinHood public offer of 38 dollars per share was the weakest among American companies since 2019, when he conducted an IPO Uber. Then the debut session for the taxi aggregator has ended with a decrease of 7.6 percent.
At the beginning of the year, RobinHood became part of the scandal around Gamestop shares – they began to suddenly grow when the participants of the forum about investing on Reddit became massively buy them to harm major hedge funds. Then the financial application suspended the possibility of selling Gamestop securities than caused a flurry of discontent private traders – up to a collective claim against RobinHood.
July 28, the online broker Robinhood entered the NASDAQ Exchange, where, within the framework of the IPO, its securities were estimated at the bottom boundary of the range of 38-42 dollars. In total, the company placed 55 million securities of class A and attracted about two billion dollars.