TechCrunch

Robinhood is now a stonk

Shares of Robinhood, an investing-focused consumer fintech company, soared this morning in premarket trading. The stonk phenomenon, which helped propel minor companies like GameStop and AMC earlier this year, appears to be impacting Robinhood’s own stock; that much GameStop and AMC trading took place on Robinhood’s platform during stonk-fever is irony not lost on this publication. Recall that Robinhood went public at $38 per share, the low end of its range, and sank in its early trading sessions to below its IPO price.

LEAVE A REPLY

Please enter your comment!
Please enter your name here