Robinhood stumbles in Wall Street debut
The fast-growing trading company finished Thursday at $34.82, down 8% from its initial public offering price. Only about a quarter of US IPOs have dropped during their first day of trading, excluding blank-check companies, according to Cordell Eminent Scholar Jay Ritter from the University of Florida.
Read more of Ritter’s insights in these stories:
Robinhood stumbles in Wall Street debut – CNN
Why Robinhood stock fell 8% in its trading debut – Barron’s
Robinhood has long championed small investors. But its IPO pounded them – Fortune