Robinhood Sold IPO Shares to More Than 300,000 of Its Customers

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Hundreds of thousands of Robinhood customers bought shares in the trading app’s rocky initial public offering earlier this week

. In a typical IPO, individual investors get well under 10%.

The decision helped make for a volatile first day of trading in Robinhood shares. The stock opened Thursday even with the $38 IPO price and quickly fell more than 10%. It closed down 8% at $34.82. The stock did a bit better on Friday, closing up about 1% at $35.15. An allocation of 25% would mean the average Robinhood customer participating in the IPO spent about $1,600 to buy 41 shares.

 

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stay away from it, not even try to short it

dnt fuk with ma sell button

Of all the IPO's in the world, this had one of the biggest crashes on its day of opening, in the entire history of the stock market. You can pump this shit all you want, we all know it's shit

Another overpriced bubble IPO driven by zero percent interest rates and rampant speculation. Thanks federal reserve!

Going to $100. Sold my shares too early. It wasn't going up fast enough.

There's a sucker born every minute.

trash as robbing pieceofshit

Great thank you

they pray Robinhood do not cut net again

That seems like a pretty pathetic number considering they have 22 million users

And selling them was not an option.. when will that be discussed?

Oh no, here comes the crash

horrible

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