Why Robinhood Stock Jumped Then Dropped in Its IPO Today

·2-min read
Why Robinhood Stock Jumped Then Dropped in Its IPO Today

Robinhood Markets (NASDAQ: HOOD), as it is officially named in its public debut, made headlines when it was overwhelmed with trading interest in names like GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC), and was forced to halt buying in some stocks in late January. As of 12:45 p.m. EDT, Robinhood shares were trading 9% below its opening price. The initial public offering (IPO) is raising about $2.1 billion for the online broker that is used by many retail investors.

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