Robinhood Falls in Trading Debut
www.coindesk.com 29 July 2021 17:34, UTC
Reading time: ~1 m
Shares of stock trading app Robinhood were trading down about 5% in its stock market debut on Thursday afternoon.
- Shares priced on Wednesday evening at $38 a share, towards the low end of its trading range and valuing the company at $32 billion.
- Trading was volatile at the start and shares initially fell as much as 10%. But the stock was more recently trading down 4.7% to $36.20. The company is trading under the ticker symbol HOOD.
- The company has significant crypto ambitions, with 17% of its overall revenue coming from crypto transactions in the first quarter of the year.
This is a developing story and will be updated.
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