Robinhood stock soars 50% for the second day in a row
Hectic days for Robinhood and its value on the Stock Exchange. The popular brokerage application has exploded again last Tuesday, earning more than 80% and forcing its price to stop at various times given the strong volatility.
The company, which had starred in a disappointing stock market premiere last week, closed Tuesday with a 24% rise and this Wednesday continues on the same path amid strong investor interest.
In this way, at the close of the markets, Robinhood shares have gained slightly more than 50%, despite the fact that they had momentarily soared more than 80% in the first bars of the session.
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The strong volatility caused the price to stop on more than one occasion and made Robinhood one of the most watched stocks on Wall Street today.
At the moment, it is not clear what is driving the sharp rises in its shares, although some experts point to a strong bet made yesterday by an influential mutual fund as one of the factors.
The ‘trading’ application had been preparing its landing on Wall Street since last year, but had to delay its plans with the frenzy created by small investors in the markets and by the investigations opened by regulators for their response to that situation.
Founded in 2013, Robinhood has had a meteoric rise thanks to its ease of use, the few barriers to operating from mobile and the fact that it does not impose direct commissions on the user.