{"id":311291,"date":"2021-07-29T19:41:00","date_gmt":"2021-07-29T16:41:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ipo-report-robinhood-stock-jeered-in-its-public-debut\/"},"modified":"2021-07-29T19:41:00","modified_gmt":"2021-07-29T16:41:00","slug":"ipo-report-robinhood-stock-jeered-in-its-public-debut","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ipo-report-robinhood-stock-jeered-in-its-public-debut\/","title":{"rendered":"#IPO Report: Robinhood stock jeered in its public debut"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b4a98467c9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b4a98467c9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ipo-report-robinhood-stock-jeered-in-its-public-debut\/#Stock_opened_flat_with_the_IPO_price_then_dropped_below_it\" >Stock opened flat with the IPO price, then dropped below it<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ipo-report-robinhood-stock-jeered-in-its-public-debut\/#Tomi_Kilgore\" >Tomi Kilgore<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#IPO Report: Robinhood stock jeered in its public debut<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Stock_opened_flat_with_the_IPO_price_then_dropped_below_it\"><\/span>\n  Stock opened flat with the IPO price, then dropped below it<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000355562\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000355562\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Robinhood Markets Inc., which has disrupted Wall Street with its  no-fee trading <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>, was jeered in its public debut on Thursday, as the stock quickly fell below its reference price.<\/p>\n<p> The highly anticipated initial public offering priced overnight at $38 a share, at the bottom of the expected pricing range of between $38 and $42 a share. Robinhood raised a net $1.89 billion in the IPO, after underwriting discounts and commissions. Read more about the IPO pricing.<\/p>\n<div class=\"paywall\">\n       The initial indication of where the stock might open was at $42.00, 10.5% above the IPO price, but expectations declined steadily as time went on.<\/p>\n<p>The stock\u2019s first trade was at $38.00 at 12:24 p.m. Eastern for 11.4 million shares, or flat with the IPO price.<\/p>\n<p>It received a quick initial boost, rising to an intraday high of $40.25, before investors backed off. The stock was recently trading at $34.56, or 9.0% below the IPO price.<\/p>\n<p>With a total of about 835.7 million shares outstanding after the IPO, the company was currently being valued at just below $29 billion, compared with expectations of up to $35 billion when IPO terms were first set.<\/p>\n<p>The disappointing debut comes on a day in which the Renaissance IPO exchange-traded fund<br \/>\n        IPO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207665280\/composite\" class=\"positive\">+0.08%<\/bg-quote><br \/>\n       edged up 0.2% in afternoon trading, while the S&amp;P 500 index<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.57%<\/bg-quote><br \/>\n       gained 0.6% toward a record high.<\/p>\n<p><strong>Don\u2019t miss<\/strong>: Robinhood IPO: 5 things (and a bonus) to know as trading app raises $2 billion.<\/p>\n<p>Whether investors should rush to buy the stock now that they can is still a matter of debate. There are worries that the retail trading boom that fueled Robinhood\u2019s rapid growth might be fading, the company faces multiple lawsuits over how it restricted trading in some meme stocks in January and there are concerns that fundamentals don\u2019t justify a such a high valuation, but there\u2019s also the upside of a large and younger user base that can be upsold new products.<\/p>\n<p><strong>Also read<\/strong>: Opinion: Three arguments for, and three against, buying Robinhood shares once they start trading after the IPO.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>\u201cI would be urging investors to stay away,\u201d said Hugh Tallents, senior partner at management consulting firm cg42. \u201cThere is an extreme amount of emotion around this stock\u201d that Tallents said is clouding the fundamental picture.<\/p>\n<p>Among his biggest concerns is that he believes Robinhood will have to \u201cspend a ton\u201d to bring in new users, keep existing users and to develop new offerings to keep its users engaged.<\/p>\n<p>Meanwhile, James Angel, a professor at Georgetown University\u2019s McDonough School of Business, said that over the longer-term, he is \u201cpositive\u201d on the company, given the size of their \u201cvery young and active\u201d user base.<\/p>\n<p>\u201cThey have a lot of growth opportunities, with a young demographic that is going to get older, wealthier and wiser,\u201d Angel said. \u201cIf they play their cards right, they\u2019ll be able to sell them plenty of financial products.<\/p>\n<p>He recommended caution over the short-term, as the stock is likely to remain volatile in the early going given all the uncertainty surrounding what is a fair price for the stock: \u201cEven if market professionals have a pretty good idea, they don\u2019t always get it right.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Tomi Kilgore\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/tomi-kilgore-1\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/TomiKilgore\",\"text\":\"@TomiKilgore\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:tkilgore@marketwatch.com\",\"text\":\"tkilgore@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Tomi_Kilgore\"><\/span>Tomi Kilgore<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-756C-EAAB2AA1AF38%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#IPO Report: Robinhood stock jeered in its public debut&#8221; Stock opened flat with the IPO price, then dropped below it Robinhood Markets Inc., which has disrupted Wall Street with its no-fee trading app, was jeered in its public debut on Thursday, as the stock quickly fell below its reference price. The highly anticipated initial public&#8230;<\/p>\n","protected":false},"author":1,"featured_media":311292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-311291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=311291"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/311292"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=311291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=311291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=311291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}