In hindsight, it ought to have been apparent that Robinhood, maker of meme shares, would have was a meme inventory.
On the primary day of buying and selling, Robinhood fell 8.4%, the worst debut of 51 firms that raised as a lot money as they did. Investor enthusiasm simply wasn’t there on its opening day. Based on knowledge from Vanda Track
On the primary day of itemizing, HOOD was solely the 28th most traded inventory on retail platform
Issues stabilized the following day, with the inventory gaining 1%. After which it was off to the races. A 7% acquire on Monday. By Tuesday, it was in full meme mode, gaining 24%. Yesterday it went to plaid, tacking on one other 50%. You’ll be able to see the explosion in retail quantity, on this chart from Vanda Monitor
Ben and I’ve had lots of enjoyable with this. He purchased 100 shares on Robinhood on the IPO ($38) and promptly bought on the lows (I instructed him to). We received into this on Areas yesterday, which we recorded in your listening pleasure. Hit the hyperlink beneath.