Robinhood Markets Inc HOOD is surging higher Wednesday amid post-IPO volatility and increasing retail investor interest.
Robinhood made its debut on the Nasdaq on July 29. Since that time, the stock has experienced significant volatility, trading as low as $33.25 before surging higher over the past few days.
Robinhood is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
At publication time, Robinhood was trending across popular social media platforms. Robinhood is by far the most mentioned stock on the subreddit r/wallstreetbets over the last 24 hours.
Many of the retail traders on r/wallstreetbets use the Robinhood platform. Robinhood came under scrutiny for implementing trading restrictions during the retail trading frenzy surrounding GameStop Corp GME and AMC Entertainment Holdings Inc AMC at the beginning of 2021.
Related Link: Why This Investor Is Raising The 'Yellow Flag' On The Most Mentioned Stock On WallStreetBets
Price Action: Robinhood has been halted for volatility twice this morning as the stock surges to new all-time highs.
At last check Wednesday, the stock was up 36.7% at $63.98.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
