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Robinhood lands on Wall Street, but debut in decline


Robinhood makes its debut on Wall Street but falls short of expectations. (HANDLE)

(ANSA) - NEW YORK, JUL 29 - Robinhood makes its debut in Wall Street but falls short of expectations.

The symbolic app of memestock opens at $ 38 per share, in line with the price set during the initial public offering, but in a few minutes it sinks and loses up to 12% to $ 33.35 and then only partially recovered.

    In the hypo, Robinhood sold 55 million shares for $ 38 apiece, which is a figure at the bottom of the fork of $ 38-42 initially identified.

And a figure to which the brokerage app, which rose to prominence during the pandemic as Reddit's retail investor, is worth $ 32 billion.

    The listing on the Nasdaq, with the ticker HOOD, turns the two co-founders of Robinhood, Vlad Tenev and BaijuBhatt, into billionaires, who see their shares in the app worth 3 and 2 billion dollars respectively. (HANDLE).

Source: ansa

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