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| Photo: AP
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Trading in them was suspended due to high volatility. The CNBC portal informed about it on Wednesday.
Robinhood shares began to be traded publicly only last Thursday for $ 38 apiece. But the first day prepared investors for disappointment when they closed with a loss of eight percent. The shares were still traded below the offer price to a large extent. But the change came on Tuesday, when they strengthened by 24 percent.
“It’s not normal for stocks of this size to move so fast. I think it would discourage institutional investors, “CNBC quoted analyst John Heagerty of Atlantic Equities. Nevertheless, Heagerty believes that the company creates great value.
Ark Invest bought 89,622 Robinhood shares in its ETF fund ARK Fintech Innovation on Tuesday, CNBC writes. According to the closing price of that day, this position was worth approximately $ 4.2 million (CZK 90 million). Wood has previously bought 3.15 million Robinhood shares.
Robinhood was founded in 2013 by Stanford University roommates Vladimir Tenev and Baiju Bhatt. The company allows users to trade stocks, ETFs, options and cryptocurrencies. Its popularity skyrocketed during the pandemic, when young people, locked up at home, decided to spend time at its business application and try to make money.
Speculative trading in shares of companies such as the AMC cinema operator or the GameStop video game retailer has attracted the attention of regulators and legislators to the platform. It entered the stock market as one of the best awarded companies this year.
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