Evergrande default

Robinhood crashes 27%

Robinhood Sinks as Investors Search for Exit

Robinhood crashes by over 27% on reports early investors file to sell 98 million shares

The newly public online brokerage filed to sell 98 million class A shares. The popular app-based broker negatively surprised the supporters.

Shares of Robinhood Markets Inc plunged -27,59% to $50.97 to give back much of Wednesday's 23% gain.

The stock keeps on seesawing since its IPO debut.

In a regulatory filing, submitted today, Robinhood registered for the sale of up to 97.9 million of shares by early shareholders.

Robinhood noted that the company will not receive any of the proceeds.

Over 323,000 Robinhood’s option contracts changed hands yesterday in one of the most heavily traded options sessions this year.

Robinhood becomes the original meme stock,

...with a lot of downside potential from here.

comments powered by HyperComments

Hot Tweets 🔥