Robinhood Shares Gain 123% After IPO

Robinhood trading platform went public on July 29, 2021. In a few days, its shares soared 123%.

Initially, it was one of the most disastrous IPOs this year, as Robinhood (HOOD) shares fell from $ 38 to $ 33.3 within days of starting. However, on August 4, the price rose to $ 85.

What caused the hype and pushed the price to a new high? Are stocks worth buying and, above all, where to buy them? Let’s try to solve it.

Why are Robinhood shares growing?

trading community has already forgotten about the popular Reddit-based “Wall Street Bets” retail investor movement that took the shares of GameStop, AMC and others to the moon.

This move became popular because ordinary people managed to defy the “greats” on Wall Street and nearly bankrupted hedge fund Melvin Capital. Robinhood’s IPO was one of the hottest financial topics on Reddit, as the move decided to back the trading platform’s stock.

An army of retail investors came out to buy HOOD shares and caused strong price growth. In other words, the “crowd” turned against professional investors again and won the battle.

Is it worth buying now?

re is a risk of a downward correction or reversal as some investors will surely want to profit and exit the market while the price is high.

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However, if history is any indicator, HOOD stocks could continue to grow, as WSB-inspired bombs have been powering GameStop and AMC stocks for quite some time.

For example, GME shares increased from January 13 to 28, 2021. AMC shares increased from May 24 to June 2, 2021. For 15 and 9 days respectively.

Meanwhile, Robinhood shares have risen for a day. So, in theory, the growth could continue for at least a week. During the rally, AMC shares managed to grow 6 times and GameStop shares up to 24 times.

Since the forum members took control of the situation, Robinhood’s actions have only doubled. It means that it is not the end.

Where to buy Robinhood shares?

It is not an easy task to buy stocks immediately after the IPO, as they are only accessible on the NASDAQ. However, CIS investors have alternative options.

Regulated cryptocurrency exchange Currency.com listed tokenized shares of Robinhood to allow everyone to benefit from the company’s growth.

tokenized Robinhood shares are issued on the Ethereum (ERC-20) blockchain and reflect the true market value of the company’s shares. tokens can be withdrawn from Currency.com to a crypto wallet that supports ERC-20.

In addition to buying, selling and holding tokenized shares, users of the cryptocurrency exchange can trade Robinhood shares with 20x leverage.

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Leveraged trading allows you to hedge price risks and use capital up to 20 times the size of the initial deposit.

Over 2000 tokenized assets are available on Currency.com, including:

  • best cryptocurrencies.
  • Tokenized shares of the largest companies in the world.
  • Tokenized stock indices.
  • Tokenized ETFs.
  • Tokenized currencies.
  • Tokenized commodities.
  • Tokenized bonds.

Users can deposit their accounts via bank transfer, Visa, and MasterCard in Belarusian and Russian rubles, as well as euros and US dollars.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.

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