Shares of Robinmood Markets Inc.
shot up 16.5% in noon buying and selling Tuesday to $43.88, placing them on observe to shut above their preliminary public providing worth for the primary time. On the no-fee buying and selling app’s public debut final Thursday, the inventory solely briefly traded above the $38 IPO worth earlier than closing that first day 8.4% beneath that worth. On Friday, the inventory traded in an intraday vary of $33.25 to $36.98 earlier than closing up 1.0% at $35.15, then stayed in a variety of $35.30 to $37.98 earlier than closing up 7.2% at $37.68 on Monday. At present costs, Robinhood’s market capitalization has climbed to $36.8 billion from $29.3 billion finally Thursday’s shut. The inventory’s rally comes on a day that the Renaissance IPO ETF
inched up lower than 0.1% and the S&P 500