After the opening of sales on the NASDAQ stock exchange, the securities of the brokerage company Robinhood began to rise sharply in price. The IPO of the online broker was announced a long time ago, but the trading launch date was postponed. On August 4, 2021, sales stopped several times due to increased volatility in the share price.
The price of Robinhood securities rose to $85 on August 4, while the day before the trading session was closed at $46.8 per share. The maximum price was recorded at 16:45. An hour later, the share price dropped to $58.08.
A sharp increase in quotes led to an increase in the market value of Robinhood to $65 billion. At the time of the company’s entry into the stock exchange, this figure was $29.1. Since the beginning of the IPO, the price of the broker’s securities has increased by more than 120%.