Friday, 30 Jul 2021 07:30 AM MYT
Robinhood had a rough start on Wall Street Thursday, falling sharply in its Nasdaq debut. Reuters pic
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NEW YORK, July 30 Robinhood had a rough start on Wall Street Thursday, falling sharply in its Nasdaq debut after the fast-growing online trading app raised US$1.9 billion (RM8.05 billion) in an initial public offering.
Trading under the ticker “HOOD,” Robinhood Markets ended at US$34.82, dropping 8.4 per cent after entering the market at US$38.
The Silicon Valley firm, launched by two friends who met at Stanford University, has billed itself as an accessible and fun platform for young and first-time investors, scored outsized growth during the coronavirus pandemic.
Regardless, CEO Tenev, 34, and chief creative officer Bhatt, 36 – who were both already considered worth $1 billion or so each due to their company s market valuation pre-IPO – still had a great day. According to FOX Business calculations, with each of the co-founders owning a 7.9% stake in the online trading platform, their net worth at the closing price of $34.82 makes them worth $2.3 billion each.
What s more, Barron s pointed out that Tenev and Bhatt have Class B holdings, which have 10 times the voting power of Class A shares. So, Bhatt has 39% of the voting control and Tenev has 26.2%, meaning they have full control of the company’s direction if they vote together, according to the report.
29 July 2021, 04:07 pm
Robinhood s shares suddenly fell after receiving its most-awaited NASDAQ (National Association of Securities Dealers Automated Quotations) trading debut this Thursday, July 29. Because of the surprising decrease, the value of the rising financial tech brokerage company is now below $30 billion.
(Photo : Photo by OLIVIER DOULIERY/AFP via Getty Images) This photo illustration shows the logo of trading application Robinhood on a mobile phone in Arlington, Virginia on January 28, 2021. - An epic battle is unfolding on Wall Street, with a cast of characters clashing over the fate of GameStop, a struggling chain of video game retail stores. I think what s interesting with what we ve seen in retail investing over the past year is that a lot of these companies have been hit hard by the pandemic, said Vlad Tenev, the CEO and co-founder of the company.
Las acciones de la plataforma de inversión Robinhood caen 9% en su debut La salida de Robinhood al Nasdaq era una de las colocaciones más esperadas del año. La firma recaudó 2,100 millones de dólares. jue 29 julio 2021 04:34 PM Expansión @ExpansionMx
Las acciones de Robinhood Markets cayeron por debajo de su precio de oferta después de su debut en el Nasdaq el jueves, en una bienvenida decepcionante para una de las colocaciones en Bolsa más esperadas del año.
Las acciones cerraron su primera jornada con una caída de 8.66% a 34.71 dólares. Al precio de apertura de 38 dólares, la correduría estaba valorada en unos 31,750 millones de dólares.
Fast-growing but controversial, Robinhood falls in Nasdaq debut
A bigger unknown may be the platform s fate when the stock market no longer sees steadily climbing equity values as it has in recent months.
July 30, 2021 04:34 BST
Robinhood had a rough start on Wall Street Thursday, falling sharply in its Nasdaq debut after the fast-growing online trading app raised $1.9 billion in an initial public offering.
Trading under the ticker HOOD, Robinhood Markets ended at $34.82, dropping 8.4 percent after entering the market at $38.
The Silicon Valley firm, launched by two friends who met at Stanford University, has billed itself as an accessible and fun platform for young and first-time investors, scored outsized growth during the coronavirus pandemic.