Robinhood’s Stock Price Rallies By Over 13% To End Amazing Debut Week

Robinhood grabbed the headlines this week after a massive surge in its stock price. The fintech company is closing the week with another 10% increase in stock price.

Hood Ends Debut Week In Excellent Fashion

The shares of Robinhood continued their excellent start on the stock market, rising by over 10% on Friday. HOOD  is now one of the most volatile stocks on the market after ending its first week with massive success.

Fintech company Robinhood became a publicly-listed company this week, becoming the latest financial trading services firm to hit the NASDAQ stock exchange. Thanks to its performance on its debut week, HOOD is currently up by over 70%, making it one of the best performers in the market.

The company reiterated earlier today that it is not selling its stocks despite the huge increase in price over the past week. Robinhood said, “Robinhood is not itself selling any additional securities but filed the Resale S-1 on behalf of certain of its shareholders pursuant to a pre-existing contractual obligation.”

At the time of this writing, HOOD is trading at $55.94 per share, recovering excellently from yesterday’s dip. HOOD  dropped by nearly 27% yesterday after news surfaced that existing shareholders will sell up to 97.9 million shares over the coming weeks and months. However, the company denied this allegation, leading to its massive stock price increase today.

HOOD Experiences Dream Debut Performance In The Market

Robinhood is one of the leading stock trading apps in the world. Its performance over the past few days reiterates its position in the fintech world. HOOD  began trading on the stock exchange on Tuesday, with its price rising by 24%, blowing past its $38 IPO price. At the start, HOOD had some major investors, including the likes of Arm Invest, led by Cathie Wood.

On Wednesday, HOOD’s performance soared higher, rising by over 50%, leading to comparisons with meme stocks such as GameStop and AMC. However, Thursday didn’t go as planned, with the stock price tanking by 27% following the news that investors are looking to sell their shares.

However, the rally resumed today, with HOOD rising by over 10% to stabilize above the $55 mark. Currently, HOOD is up by over 70% since it made its debut on the stock exchange a few days ago.