Crypto-friendly app Robinhood loses 8% in public Nasdaq debut
Unlike traditional IPOs with a six-month lockup period, Robinhood will allow its employees to sell 15% of its shares immediately after the public debut. Shares of cryptocurrency-friendly trading app Robinhood dropped more than 8% in its public Nasdaq debut on Thursday, marking one of the worst initial public offering (IPO) debuts of its size.Robinhood’s HOOD stock tumbled 8.4% below the IPO price in the company’s first trading session on July 29, dropping from $38 to $34.82. The company went public on Nasdaq at a $32 billion valuation to see its market capitalization fall to $29 billion....
Related News
After a decidedly lackluster IPO debut last week, Robinhood shares have been wildly volatile in recent days, at one point skyrocketing by as much as 81% on the day. After making unwanted headlines with its disappointing initial public offering (IPO) debut on Nasdaq last week, shares in stock and cryptocurrency trading app Robinhood have seen wild volatility in recent days. In an ironic twist that saw the price of HOOD stocks soar by as much as 82% in one day, the app that has so often been the beneficiary of frenzied meme stock trading itself began to resemble the latest online craze.Since....
Nasdaq-listed trading platform Robinhood is acquiring Ziglu, a London-based electronic money institution and crypto asset firm. The acquisition is part of Robinhood’s international expansion plan. Robinhood “sees a big opportunity in serving customers across the globe.”
Robinhood Acquiring Regulated Crypto Firm Ziglu
Popular U.S.-based trading platform Robinhood announced Tuesday that it has signed an agreement to acquire a regulated cryptocurrency firm Ziglu.
Citing its mission to “democratize finance for all,” Robinhood....
The U.S. Financial Industry Regulatory Authority delivered its biggest financial penalty against the trading app on Wednesday, and Robinhood still reportedly faces scrutiny from the SEC regarding its business practices. Stock and cryptocurrency trading app Robinhood has filed an application with the U.S. Securities and Exchange Commission for an initial public offering.In a Form S-1 registration statement filed Thursday with the SEC, Robinhood said it intended to move forward with an initial public offering for its Class A common stock. If approved, the company said it plans to trade using....
Currently, users of popular stock and digital currency trading app Robinhood can’t move their crypto off the platform. Retail shareholders of crypto-friendly trading app Robinhood are demanding a crypto wallet along with a branded hat and hoodie, a public shareholders questionnaire revealed. The public question crowdsourcing platform Say, which was Robinhood’s first purchase after it went public, enabled retail shareholders of Robinhood to ask and upvote questions in a Reddit-style interface. “Management will address a selection of the most upvoted questions relating to Robinhood’s....
Robinhood, the fee-free cryptocurrency, stock, and options exchange, raised almost $2 billion in its initial public offering, reaching a valuation of $32 billion. While the company is more valuable than Nasdaq itself, the IPO failed to give the company an expected valuation of $35 billion. Robinhood trading will open today, with its shares trading under the HOOD ticker. Robinhood Misses $35 Billion Valuation Goal Robinhood, the fee-free investing app, has successfully completed its IPO, raising almost $2 billion. However, the company failed to meet the goal of reaching a $35 billion....