The cost of shares of the RobinHood scandalous application took off after a recent failure on the primary placement (IPO). This is evidenced by the NASDAQ exchange data.
On August 3, according to the results of trading, RobinHood stock increased by 24.2 percent to 46.8 dollars per piece. The cost of the company amounted to $ 39.4 billion. CNBC Financial Analyst Jim Kramer said he sees good perspectives from RobinHood.
Online broker Robinhood entered IPO on July 29 and immediately showed a record drop – stocks fell by 8.4 percent from 38 to 34.8 dollars per piece. It became the worst indicator in the history of the IPO among the 51 American firms that attracted as much or more funds. The anti-advertord was established in 2007 by MF Global – according to the results of the first day, the promotion fell by 8.2 percent. Despite the bad IPO indicators, after it the founders of RobinHood became twice as richer.
robinhood is founded in 2013 by owners of Vlad Shane and Bayju Bhahatt. The application is popular among amateur investors, since it allows to trade shares without commission. In January 2021, Robinhood was in the center of the scandal associated with the purchase of shares of the seller Gamestop video game. Members of the Reddit website arranged a flashmob on the redemption of Gamestop shares, applying to professional players on the stock exchange. Then the participants of Flashmob decided to continue it and began to buy shares of other undervalued companies, after which Robinhood forbade it to do, allowing only sale.