Robinhood stock gets off to rocky start
Getty Images for Robinhood
By Matt Egan, CNN Business
Wall Street didn’t exactly roll out the red carpet to welcome Robinhood after its highly anticipated debut.
The fast-growing trading company finished Thursday at $34.82, down 8% from its initial public offering price. Robinhood failed to score the first-day pop that new companies covet.
And that’s despite Robinhood pricing its IPO at $38, the low end of the expected range. All of this suggests demand is somewhat lukewarm for Robinhood, a company that has revolutionized the way Americans trade but has also been dogged by controversy.