Retailers weren’t hot on Robinhood stock after IPO

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

Once it began trading, 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 after the opening bell — 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.