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Robinhood Surges 24% to Surpass IPO Price for First Time

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Wall Street’s lackluster welcome for Robinhood Markets Inc. didn’t last long.

Shares of the popular trading app, which gained prominence when legions of stuck-at-home amateurs turned investing into a hobby, soared 24% to $46.80 on Tuesday. The move came as more than 88 million shares changed hands, larger than the trading volume for Friday and Monday combined.