Shares of Robinhood jumped Tuesday, surging past the company’s initial-public-offering price in a reversal from last week’s underwhelming trading debut
Shares of Robinhood Markets Inc. jumped Tuesday, surging past the company’s initial-public-offering price in a reversal from last week’s underwhelming trading debut.
The company’s stock, which trades under the ticker symbol HOOD, was up 17% at $43.92 in recent trading and earlier touched a high of $45. Robinhood, the maker of the popular zero-commission trading platform, made its debut on Nasdaq last week, opening at $38 a share. Its stock tumbled shortly after trading kicked off, falling more than 10% intraday, before settling below $35.
In the days since, Robinhood’s stock struggled to surpass its IPO price—until Tuesday. A catalyst behind the jump wasn’t immediately clear. Analysts and traders have been carefully watching Robinhood’s first few days of trading because of the company’s unusual decision
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