Robinhood Just Went Public: Will It Become the Next Meme Stock?
Robinhood Markets (NASDAQ: HOOD), whose online brokerage helped democratize investing while fueling the meme-stock trading frenzy that persists today, went public recently to great fanfare. Its debut was initially greeted with a collective "meh" -- shares opened for trading at $38 but closed out their first day below $35, an 8% drop.
Since then, the stock has whipsawed a bit, surging 50% one day only to tumble over 25% the next. At Thursday's prices, Robinhood sits around 25% above its IPO price, which leads to the question of whether stock traders will fully embrace the platform the way they did to boost shares of AMC Entertainment Holdings and GameStop by 1,000% or more.
Source Fool.com
