Robinhood stock rallies in IPO rebound
Robinhood's stock redeemed itself rising 24% on Tuesday
Karl Roessner explains provides insight on the significance of the first days of trading on 'The Claman Countdown'
Robinhood doubters got a reality check on Tuesday.
The stock rallied over 24%, absent of concrete news, to close at $46.80 per share, above its initial public offering price, which came in at the low end of expectations, for the trading app's highly anticipated IPO.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HOOD | ROBINHOOD MARKETS INC. | 17.34 | -0.54 | -3.02% |
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Last week, Robinhood Markets Inc. shares fell more than 8% in their Nasdaq debut after opening for trading at $38 apiece, where they priced on Wednesday evening. Robinhood's IPO, which raised about $2.1 billion, gave the company a market value of nearly $32 billion.
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Today, that figure moved up to $32.9 billion.