By Kuldip K. Ambastha
Robinhood Markets, Inc. (HOOD) is an online brokerage firm offering many investment products at a zero commission per trade for retail investors. Robinhood went public in the past trading week on NASDAQ, with the first day of trading for its stock being Thursday, July 29, 2021. Shares were initially priced at $38, which is the low end of the $38-$42 per share range that Robinhood leadership was targeting. At the end of the first trading day, the closing price was $34.82 per share. At the end of the second trading day, the closing price was $35.15 per share. The initial public offering (IPO) of Robinhood was unique in a way since up to 35% of shares were reserved for retail investors over other parties. For now, shares of Robinhood are trading at less than the inital price of $38 per share. If Robinhood ends up successful over the long run in its mission of revolutionizing the world of investing through a focus on empowering retail investors, the stock price will have a brighter future going forward.
Keywords – Robinhood Markets, Inc., Robinhood Markets, Robinhood, HOOD, online, brokerage, zero commission, retail investors, NASDAQ, initial public offering, IPO, public, trading.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in HOOD.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2021 – Ambastha Financial LLC.