Crypto-friendly app Robinhood loses 8% in public Nasdaq debut
Cointelegraph
Published Jul 30, 2021 06:02AM ET
Updated Jul 31, 2021 08:00AM ET
Shares of cryptocurrency-friendly trading app Robinhood (NASDAQ:HOOD) dropped more than 8% in its public Nasdaq debut on Thursday, marking one of the worst initial public offering (IPO) debuts of its size.
Robinhood’s HOOD stock tumbled 8.4% below the IPO price in the company’s first trading session on Thursday, dropping from $38 to $34.82. The company went public on Nasdaq at a $32 billion valuation to see its market capitalization fall to $29 billion after the HOOD stock ended the session below $35.
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Written By: Cointelegraph
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