Retailers weren’t hot on Robinhood stock after IPO - ViralMula.com
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Retailers weren’t hot on Robinhood stock after IPO

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Robinhood’s efforts to democratize finance fell flat on the free trading app’s first day as a public company.

Retail investors only bought $18.85 million shares of the popular trading app which closed its first day of trading with a market cap of $29 billion, according to data from Vanda Securities reviewed by The Post.

The small amount of stock retailers snatched up — far less than 1 percent of the company — pales in comparison to the money retailers spent in previous high-profile IPOs, according to Vanda’s data. For comparison, small investors bought $143 million of Snap Inc., $140 million of Uber Technologies Inc. and $69 million of Didi on the day those companies went public, the firm said.

Retailer’s underwhelming interest was yet another disappointment for Robinhood as the company’s shares plummeted 10 percent just moments after its hotly-anticipated debut.

The firm’s Wall Street bankers had priced the stock at the low end of its $38-to-$42 IPO range in an effort to secure a successful first day of trading. But the shares fell to as low as $33.35 before recovering slightly to end the day down 8.37 percent at $34.82 a share. The closing price gives the Menlo Park, Calif., company a market value of $29 billion.

Still, other companies with underwhelming IPOs have managed to snag more retail interest than Robinhood. As recently as April, small investors bought $57 million of Coinbase on the company’s IPO day despite the crypto exchange ending the day far lower than it opened.

This data is particularly surprising because Robinhood hyped the fact it would give investors access to its shares with a product they introduced to their platform: IPO Access.

The product, introduced in May, gives users the ability to buy shares at their listing price before they begin trading on stock exchanges. The move was seen as an effort to appeal to its customers and possibly buoy the startup’s stock debut by expanding demand from Wall Street to Main Street.



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Usain Bolt Offers Sha’Carri Richardson Some Tough Advice Following Multiple Meet Losses

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Jamaican sprinter Usain Bolt is offering some words of wisdom to rising track star Sha’Carri Richardson following the young athlete’s fall from grace.

During a recent interview with the New York Post, the eight-time Olympic gold medalist was asked about the 21-year-old whose stellar performance in the U.S. Olympic Track and Field Trials at the new Hayward Field in Eugene, Oregon, last June was quickly overshadowed by a series of incidents, including a failed drug test, which subsequently got her disqualified from the Tokyo games entirely.  

Bolt told the media outlet that the best thing the Texas native can do now is stop talking and focus on what really matters. “I would tell Sha’Carri to train harder and to be focused and not say too much…,” he explained. A much speculated lack of media experience ultimately led to a dim in her once fiery fan support. Many have expressed belief that the young star’s trash talk proved damaging to her brand. 

“If you talk that big talk you have to back it up,” Bolt continued. The Jamaican-born sprinting phenom added, “So just train hard and focus on that and try to come back, do it and then talk about it.”

On Aug. 21, Richardson finished in last place in the women’s 100 meters as Jamaica’s Elaine Thompson-Herah dominated the race. Shortly afterward, an online feud seemingly unraveled between Richardson and Team Jamaican.

Bolt told the outlet he and his fellow Jamaican athletes were not impressed by Richardson’s attitude, considering a rivalry between American and Jamaican sprinters that picked up some steam dating back to at least 2012. 

“Jamaicans were vexed because she was talking a lot of s–t before the actual race, it is just one of those things,” he explained. “Jamaicans don’t like when people talk s–t about us because we are a very proud people. So if you talk about us we are gonna want you to back it up. It definitely gave those women the extra push [to win.]” 

Richardson has had a few incidents with members of the Caribbean nation. She was offered an all-expenses-paid trip to Jamaica by a Jamaican hotel owner, following her loss to Jamaica’s Shelly-Ann Fraser-Pryce, who finished second in the Prefontaine race. Many people online found the gesture to be disingenuous.

‘You Have to Back it Up’: Usain Bolt Offers Sha’Carri Richardson Some Tough Advice Following Multiple Meet Losses

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? (SWIPE)

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? 👀 (SWIPE)

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? 👀 (SWIPE)

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SWIPE and PressPlay to see the two moments everyone is talking about that happened at the end of the DondaEvent – KimKardashian came out in a wedd

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SWIPE and PressPlay to see the two moments everyone is talking about that happened at the end of the DondaEvent – KimKardashian came out in a wedding dress and performed what seemed like a mock wedding or reconciliation with KanyeWest . Also, KanyeWest left the stage on fire. @applemusic

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