Robinhood Market Surges 50% As Investors Scoop Up Shares

Share post:

On Wednesday, Robinhood Market surged 50%, leading the online broker’s shares to close at $70.39.

The stock rose above its initial offer price of $38 a share and posted its fourth consecutive day of straight gains.

This can be attributed to the popularity it gained with small-time investors when the volume of retail trading increased tenfold and the share rose by 24%.

The company’s shares last rose 14.9% to $53.5 on Wednesday, making it the second-most traded across U.S. exchanges in trading before the bell.

The company’s market capitalization rose to $58.8 billion, ahead of Twitter, Chipotle Mexican Grill and wealth manager T. Rowe Price.

For more information, read the original story in Reuters.


Related articles

Google’s data centers consume 5.6 billion gallons of water

Google's water consumption has soared in recent years, with the company using 5.6 billion gallons of water in...

EU, U.S. agrees on new data privacy framework

The European Commission has adopted an agreement with the United States to reopen transatlantic data flows between the...

U.S. intel agencies buying Americans’ personal dates

According to a declassified report from the Office of the Director of National Intelligence (ODNI), U.S. intelligence services acquired...

PostgreSQL becomes the most popular database engine 

According to a new Stack Overflow study of 90,000 engineers, PostgreSQL has surpassed MySQL as the most popular...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways