Investing
Robinhood Catches Its Own Meme Stock Spotlight With Wild 100% Surge
Ingredients that make for breakneck, frenzied trading are coming together for the brokerage firm, almost a week after it flopped in its public trading debut.
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Enthusiasm from small-time investors, a surging stock price that’s baffling analysts, options trading, Cathie Wood’s endorsement and Jim Cramer’s tweets.
Ingredients that make for breakneck, meme stock-style trading are coming together for Robinhood Markets Inc., almost a week after it flopped in its public trading debut. Speculation is now swirling around what’s behind a surge that’s boosted its shares by 100% this week. Robinhood’s stock, which fell about 8% from its $38 IPO price during its Thursday debut, closed at $70.39 Wednesday.