Robinhood Markets Inc. shares rose above the company’s initial public offering price for the first time as individual investors joined Cathie Wood on Tuesday to boost the zero-fee trading platform.
Retail investors’ participation in share trading saw a steep improvement on Tuesday compared to the lukewarm reception the popular app received since making its stock-market debut on Thursday. The trading boost came alongside Ark Investment Management’s move to increase stake in the company. Ark Fintech Innovation ETF bought 89,622 Robinhood shares in the previous session as they surged 24% to close at $46.80 apiece. The stock was up 9% in premarket trading in New York on Wednesday.
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August 04, 2021 at 04:52PM
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Robinhood Retail Traders Join Cathie Wood to Get Stock Above IPO - Bloomberg
"wood" - Google News
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