Shares of Menlo Park, California-based Robinhood tumbled 8.2% to $45.70 in extended trading at 6:35 p.m. in New York, after climbing 31% since its July 29 initial public offering.
Robinhood has officially become a meme stock, and this week’s wild ride could be just the beginning if legions of amateur investors pull money from their old favourites to buy more shares while insiders are dumping them.
Robinhood Takes on Meme Stocks Mantle and Their Violent Swings bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(HOOD) - Robinhood Sets Terms For IPO: What You Need To Know benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.