In Robinhood’s stock debut, a tumble and then sharp swings

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NEW YORK (AP) — Wall Street has given Robinhood a cool reception in the online broker’s debut in the stock market that it helped reshape by bringing millions of new investors. But it received a cool reception Thursday. Shares of Robinhood Markets slumped 8.4% in their first day of trading on the Nasdaq from their initial price of $38 set late Wednesday. It’s a disappointing opening for the highly anticipated offering, which had already priced at the low end of its expected range. Robinhood has created plenty of passion, both by users and critics alike, and that polarizing effect played out through the day as the stock made sharp swings.

The post In Robinhood’s stock debut, a tumble and then sharp swings appeared first on WEEK.

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