Bitcoin
$47,557.56-1.21%
Ethereum
$3,539.61-1.30%
XRP
$1.08-3.17%
Cardano
$2.41-3.10%
Polkadot
$35.10-4.37%
Stellar
$0.328939-2.97%
Dogecoin
$0.239285-3.29%
Chainlink
$29.42-4.15%
Uniswap
$26.06-4.38%
Polygon
$1.38-1.19%
Litecoin
$184.24-2.15%
Bitcoin Cash
$637.53-2.09%
Algorand
$2.04+0.91%
Wrapped Bitcoin
$47,616.93-1.19%
Cosmos
$36.18+6.33%
Filecoin
$83.78-1.93%
The Graph
$0.858878-4.73%
Tron
$0.115387-4.66%
Ethereum Classic
$57.61-2.49%
Aave
$383.14-5.05%
Tezos
$6.71-2.71%
NEO
$50.49-4.21%
EOS
$4.99-1.77%
Monero
$263.73-2.63%
IOTA
$1.51-6.09%
BitTorrent
$0.004020-3.06%
Waves
$31.04+2.52%
Bitcoin SV
$156.95+0.36%
Maker
$2,966.81-2.78%
Dash
$207.30-0.50%
Decred
$142.55-2.03%
ICON
$2.05-6.62%
Decentraland
$0.839662-2.41%
NEM
$0.187974-0.56%
Zcash
$137.39-0.72%
Qtum
$12.66-3.11%
Bitcoin Gold
$68.08-0.39%
NuCypher
$0.328643-4.09%
Yearn Finance
$34,621.42-5.21%
OmiseGO
$8.77-1.83%
Basic Attention Token
$0.770672-3.04%
0x
$1.14+5.79%
Fetch.ai
$0.904392-3.98%
Paxos Standard
$0.990118-0.97%
Ren
$1.00-10.88%
Band Protocol
$9.76+1.27%
Bancor
$4.18-2.68%
Siacoin
$0.018838-3.63%
Kava.io
$6.35-2.15%
Nano
$5.65-4.44%
Loopring
$0.468473-3.89%
Storj
$1.42-2.47%
Civic
$0.532954+0.64%
Lisk
$3.60-4.81%
Numeraire
$43.99-2.45%
Orchid
$0.374466-2.70%
PAX Gold
$1,763.74-2.05%
Augur
$26.25-2.29%
Aragon
$5.97-3.28%
Enzyme
$119.61-6.08%
district0x
$0.175160-6.25%
Kyber Network
$1.85-2.36%
SingularDTV
$0.001202-5.44%
Tether
$1.00+0.02%
USD Coin
$1.00+0.02%
Dai
$1.00+0.00%

Robinhood Falls in Trading Debut

Shares of the popular zero-commission trading app opened down as much as 10% on Thursday before closing the day down 8.4%.

Jul 29, 2021 at 5:04 p.m. UTC
Updated Sep 14, 2021 at 1:32 p.m. UTC

Shares of stock trading app Robinhood closed down more than 8% in its stock market debut on Thursday.

  • Shares priced on Wednesday evening at $38 a share, towards the low end of its trading range and valuing the company at $32 billion. The company sold 52.4 million shares and raised $1.89 billion.
  • Trading was volatile at the start and shares initially fell as much as 10%. The stock recovered some of those losses before again drifting lower, finishing the day down 8.4% to $34.82. The company is trading on the Nasdaq under the ticker symbol HOOD.
  • The company has significant crypto ambitions, with 17% of its overall revenue coming from crypto transactions in the first quarter of the year. Customers can currently buy and sell bitcoin, ether and dogecoin.
  • Robinhood unconventionally offered a portion of its initial public offering to users via its app, a strategy some consider to be a risky gamble.

UPDATE (July 29, 20:21 UTC): Updated with final closing price.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...