Robinhood Is Becoming a Hotbed of Winning IPOs
Robinhood Markets (NASDAQ: HOOD) as a springboard for new offerings is showing signs of life again. A pair of debutantes made shares available to Robinhood users on Thursday as part of the trading exchange's IPO Access platform.
Brilliant Earth (NASDAQ: BRLT) is a an online jewelry retailer specializing in ethically sourced engagement rings and other big-ticket jewelry items. It's growing. It's profitable. It had to price its IPO at $12 (below its initial pricing range), but it was a hit on Thursday. Brilliant Earth opened at $13, climbing 43% higher to close at $17.12 by the closing bell.
Argo Blockchain (NASDAQ:ARBK) rose a more modest 12% for its Thursday trading debut. True to its name, Argo is a London-based data center that's mining for crypto. Revenue more than doubled last year, and Argo is also now profitable. It joins Brilliant on Robinhood's platform providing its users with access to shares of new stocks at IPO prices.
Source Fool.com
