Robinhood's Secret Ingredient Has a New Stock Smell
It's not a surprise to see that the most popular stock on Robinhood Markets (NASDAQ: HOOD) right now is the trading exchange itself. Robinhood went public seven trading days ago, and it's only natural to see users of the next-gen trading platform go for some home cooking in their portfolio accounts.
Robinhood helped make its own luck on that front. It opened the door for any of its 22.5 million funded accounts to get a piece of the IPO. Just 301,573 account holders submitted requests for the freshly minted Robinhood shares, and they all got what they wanted.
The interesting thing here is that Robinhood Markets isn't the first new offering that traders on the platform have been able to grab at the debut price. Robinhood has now had seven different new issues made available to its users on its new IPO Access platform. If you think these rookie stocks have been duds outside of Robinhood you may want to check the scorecard.
Source Fool.com
