Robinhood investors may have the last laugh after lackluster IPO
CNN
Robinhood's Wall Street debut was tepid, just like Facebook's initial public offering more than nine years ago. But despite the lackluster start, Robinhood has roared back to life in the past week. Can it continue to climb and eventually become the Facebook of financial services?
It's way too soon to make that call. But notably, shares of Robinhood debuted at $38 — the same price as Facebook (FB) in its May 2012 IPO. Today Facebook is trading at nearly $361. Robinhood has certainly had a rollercoaster ride so far: The stock tumbled 8% on its first day and fell as low as $33.25 the second day. But it's since roared back up to more than 40% above the IPO price and is now trading around $54, even briefly hitting a high of $85 last week.
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