FTSE jumps 1pc on results bonanza
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In a further update, Robinhood fell as much as 7.9pc in early trading. Â
Shares were down 6.8pc from the offer price to $35.40 at 12:35pm in New York trading, giving the company a market value of about $30bn.
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Vlad Tenev, the co-founder and co-chief of Robinhood
Online brokerage Robinhood has started trading at $38 per share in its long-awaited debut on the Nasdaq - the same price of its initial public offering. Shares had been indicated to open 11pc higher at $42 each (see post at 3:38pm).
The price of £38 was at the lower end of its expecting range, and raised $2.1bn.