Connect with us

Money

Robinhood extends 2-day gain to 126%, Thanks to Reddit’s Wall Street Bets forum

Published

on

Robinhood extends 2-day gain to 126%, Thanks to Reddit’s Wall Street Bets forum

In Wednesday trading, Robinhood stock rose as much as 82 percent, bringing its two-day gain to 126 percent.

The price rose after the online trading programme struggled in its post-IPO trades last week, with the shares plunging as much as 12% on its first day of trading. On Thursday, Robinhood priced its initial public offering at $38 per share. On Wednesday, the stock scaled high on  $85 despite repeated trading halts due to volatility.

The stock’s rise comes as more individual investors discuss the stock on Reddit’s Wall Street Bets forum. With over 1,700 mentions in the last 24 hours, according to data from SwaggyStocks, Robinhood was by far the most talked stock on the forum. With only 388 mentions on the forum, AMD was the next most talked about stock.

According to SwaggyStocks, the majority of Robinhood’s mentions on the Wall Street Bets forum were positive. One Reddit member stated, “Unpopular opinion: Robinhood still has the best mobile Interface.”

Others were less enthusiastic about Robinhood, with one user predicting that the company “would eventually tank” if the SEC prohibits paying for order flow. PFOF practises account for the majority of Robinhood’s revenue.

However, some investors, such as Cathie Wood’s ARK Invest, which has a $250 million position in Robinhood through three of its ETFs, are unconcerned about the online trading app’s revenue source.

Click to comment

Leave a Reply

Entertainment

Cheryl Burke Cheryl Burke
Entertainment4 hours ago

Cheryl Burke will be unavailable from ‘Dancing With the Stars’ after testing positive for COVID-19

Cheryl Burke will be unavailable from ‘Dancing With the Stars’ after testing positive for COVID-19 Cheryl Burke will be putting...

Shang-Chi Poster Shang-Chi Poster
Entertainment4 hours ago

Shang-Chi Tops The Box Office For Fourth Straight Week In A Row

Shang-Chi has remained at the top of the box office for nearly a month, with four weeks and counting this...

TikToker GabeNotBabe TikToker GabeNotBabe
Entertainment5 hours ago

19 year old TikToker GabeNotBabe died in a car accident: Fans are in disbelief

19 year old TikToker GabeNotBabe died in a car accident: Fans are in disbelief Gabriel Salazar, nicknamed GabeNotBabe, was a...

demon slayer season 2 demon slayer season 2
Entertainment1 day ago

‘Demon Slayer’ Season 2 Release Date Revealed

The riddle of when Demon Slayer season 2 would be released has now been addressed, and it will certainly be...

Meghan Markle and Prince Harry Meghan Markle and Prince Harry
Entertainment1 day ago

Meghan Markle, Prince Harry promote vaccine equity during Global Citizen Live appearance

During an appearance at Saturday’s Global Citizen Live event in New York City, Meghan Markle and Prince Harry called for...

Cowboy Bebop’s Opening Credits Cowboy Bebop’s Opening Credits
Entertainment1 day ago

Watch Live-Action Cowboy Bebop’s Opening Credits

Cowboy Bebop, a science fiction neo-noir anime about a ragtag group of space bounty hunters, has received critical acclaim for...

Kanye West Kanye West
Entertainment2 days ago

Netflix released first look at Kanye West documentary ‘Jeen-Yuhs’

Netflix released first look at Kanye West documentary ‘Jeen-Yuhs’ Behind-the-scenes footage of West and his classmates from College Dropout will be...

Sports

Money

x