Robinhood Has the Worst Debut Ever for IPO of Its Size

MF Global previously held the title for its 2007 IPO
Robinhood had largest decline for an opening trade since Uber

WATCH: Robinhood CEO and co-founder Vlad Tenev discusses the company’s initial public offering, the pipeline of new products, and regulatory scrutiny of the company. (Source: Bloomberg)

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By Drew Singer

July 29, 2021 at 5:24 PM UTC

Updated on

July 29, 2021 at 8:17 PM UTC

This article is for subscribers only.

Robinhood Markets Inc. wanted to make history with its initial public offering, and now it has -- for the wrong reason.

Shares in the broker behind the meme-stock revolution fell 8.4% below the IPO price in the company’s first trading session. That’s the worst debut on record among 51 U.S. firms that raised as much cash as Robinhood or more, according to data compiled by Bloomberg.