Robinhood Markets Inc. jumped a whopping 50% on Wednesday after a wave of individual investors joined the likes of Cathie Wood to pile on the zero-fee trading platform.
The stock traded as high as $85 in New York before trimming gains to close at $70.39 as the volatility triggered at least three trading halts. The frenzied share buying pushed the company’s market value to a peak of $65 billion from $29.1 billion after its debut on Nasdaq last week.
