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Robinhood shares take 8% fall at finish of Nasdaq trade debut
by
Compiled Democrat-Gazette Staff From Wire Reports
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Today at 2:05 a.m.
Vladimir Tenev, chief executive officer and co-founder of Robinhood, celebrates Thursday in New York’s Times Square after his company’s initial public stock offering.
(AP/Mark Lennihan)
Robinhood was met with an icy welcome from Wall Street on Thursday as the company s stock sank by as much as 10% during its first day of trading.
After opening at $38 per share the low end of its projected price range, which pegged its valuation at around $32 billion the company s stock wobbled in the afternoon session, closing the day at $34.82, or down 8%.
Robinhood clinches $32 billion IPO ahead of Nasdaq debut
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