Robinhood’s shares finished down 27.6% at US$50.97 a day after they jumped more than 50%. The company went public on July 29 at $38, with its shares initially falling below the public offering price before galloping higher.
Robinhood’s shares finished down 27.6% at US$50.97 a day after they jumped more than 50%. The company went public on July 29 at $38, with its shares initially falling below the public offering price before galloping higher.
In a regulatory filing https://sec.report/Document/0001628280-21-015656 submitted Thursday the company registered for the sale of up to 97.9 million of shares by early shareholders and noted that the company will not receive any of the proceeds. The filing angered some retail investors, who groused in online forums such as Reddit’s WallStreetBets.
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