Robinhood Shares Gain as HOOD IPO Underwriters Face Retail Pressure
Robinhood Markets shares closed up about 3% at $86.36 on Wednesday and traded higher early Thursday. The stock is getting new interest as the broker steps closer to Wall Street’s main deal flow. What matters to investors isn’t just another update on trading volumes: Robinhood Securities got approval to underwrite IPOs, moving beyond distributing stock allocations to its app users and into helping companies go public.
