Robinhood Markets Inc (NASDAQ:HOOD) is surging higher Wednesday amid post-IPO volatility and increasing retail investor interest.
Robinhood made its debut on the Nasdaq on July 29. Since that time, the stock has experienced significant volatility, trading as low as $33.25 before surging higher over the past few days.
Robinhood is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
At publication time, Robinhood was trending across popular social media platforms. Robinhood is by far the most mentioned stock on the subreddit r/wallstreetbets over the last 24 hours.
Many of the retail traders on r/wallstreetbets use the Robinhood platform. Robinhood came under scrutiny for implementing trading restrictions during the retail trading frenzy surrounding GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC) at the beginning of 2021.
Related Link: Why This Investor Is Raising The ‘Yellow Flag’ On The Most Mentioned Stock On WallStreetBets
Price Action: Robinhood has been halted for volatility twice this morning as the stock surges to new all-time highs.
At last check Wednesday, the stock was up 36.7% at $63.98.
