{"id":46931,"date":"2021-07-29T19:29:38","date_gmt":"2021-07-29T16:29:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46931"},"modified":"2025-09-01T18:51:32","modified_gmt":"2025-09-01T15:51:32","slug":"robinhood-shares-begin-trading-on-nasdaq-valuation-around-32-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhood-shares-begin-trading-on-nasdaq-valuation-around-32-billion\/","title":{"rendered":"Robinhood shares begin trading on Nasdaq; valuation around $32 billion"},"content":{"rendered":"<p>On Thursday, July 29, the stock- and cryptocurrency-trading app Robinhood conducted its initial public offering on the Nasdaq.<\/p>\n<p>The official listing ceremony took place shortly before trading began.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u26a1 Power comes through participation.<\/p>\n<p>Today, we celebrate <a href=\"https:\/\/twitter.com\/RobinhoodApp?ref_src=twsrc%5Etfw\">@RobinhoodApp<\/a>, creating products built for everyone and empowering users to invest at their own pace. <\/p>\n<p>It\u2019s an exciting day at <a href=\"https:\/\/twitter.com\/Nasdaq?ref_src=twsrc%5Etfw\">@Nasdaq<\/a> with <a href=\"https:\/\/twitter.com\/vladtenev?ref_src=twsrc%5Etfw\">@vladtenev<\/a>, Baiju Bhatt and the <a href=\"https:\/\/twitter.com\/search?q=%24HOOD&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$HOOD<\/a> team. \ud83d\ude4c <a href=\"https:\/\/t.co\/dmbfrX68V7\">pic.twitter.com\/dmbfrX68V7<\/a><\/p>\n<p>\u2014 Nasdaq (@Nasdaq) <a href=\"https:\/\/twitter.com\/Nasdaq\/status\/1420750053791215616?ref_src=twsrc%5Etfw\">July 29, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the eve, the company <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-sets-ipo-share-price-at-38\">set <\/a>the starting price of trading for HOOD shares at $38 and a market valuation of about $32 billion.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">July 29, 2021 | 23:53<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Trading closed at $34.82. Market capitalisation fell to about $29 billion.<\/p>\n<\/div>\n<p>Robinhood offered investors 55 million Class A shares. According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-29\/robinhood-duo-ride-retail-trading-frenzy-to-billionaire-riches?utm_medium=social&#038;cmpid=socialflow-twitter-business&#038;utm_campaign=socialflow-organic&#038;utm_content=business&#038;utm_source=twitter&#038;sref=AACmJ2tc\">Bloomberg<\/a>, co-founders Vlad Tenev and Baiju Bhatt officially became billionaires with fortunes of $2.4 billion and $2.8 billion respectively.<\/p>\n<p>Trading at the start of the session nudged higher.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"828\" height=\"505\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome.jpg\" alt=\"Robinhood shares begin trading on Nasdaq. Valuation at around $32 billion\" class=\"wp-image-144195\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome.jpg 828w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-300x183.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-768x468.jpg 768w\" sizes=\"auto, (max-width: 828px) 100vw, 828px\" \/><figcaption>Source: Nasdaq.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update article_update\"><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>In the first 15 minutes of trading, HOOD shares fell more than 10% to around $34.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"153\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-1-1024x153.jpg\" alt=\"Robinhood shares begin trading on Nasdaq. Valuation at around $32 billion\" class=\"wp-image-144198\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-1-1024x153.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-1-300x45.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-1-768x114.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-1.jpg 1221w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: Nasdaq.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">July 29, 2021 | 20:26<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>During the first hour of trading, Robinhood&#8217;s share price slumped to below $34 and then nearly recovered to the opening level.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"155\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-2-1024x155.jpg\" alt=\"Robinhood shares begin trading on Nasdaq. Valuation at around $32 billion\" class=\"wp-image-144202\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-2-1024x155.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-2-300x45.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-2-768x116.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Robinhood-Markets-Inc.-HOOD-Stock-Price-Quote-News-History-Nasdaq-Google-Chrome-2.jpg 1102w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<p>Robinhood filed for an IPO with the US Securities and Exchange Commission (SEC) in early July.<\/p>\n<p>According to media reports, the company planned to list earlier, but <a href=\"https:\/\/u1f987.com\/en\/news\/media-robinhood-delays-ipo-amid-sec-review-of-crypto-trading-service\">delayed <\/a>the offering due to the SEC&#8217;s review of its cryptocurrency business.<\/p>\n<p>As part of preparation for the IPO, Robinhood CEO Vlad Tenev <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-chief-says-cryptocurrencies-are-the-cornerstone-of-the-companys-future-development\">described digital assets as the cornerstone<\/a> of the company&#8217;s future development.<\/p>\n<p>In the first three months of the year the number of users of the company&#8217;s mobile app for trading digital assets <a href=\"https:\/\/u1f987.com\/en\/news\/robinhoods-crypto-platform-user-base-grew-by-a-factor-of-5-6-in-q1\">increased from 1.7 million to 9.5 million<\/a>.<\/p>\n<p>In March, Tenev announced the addition of a crypto wallet to the service. According to media reports, the move <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-to-add-option-to-withdraw-crypto-assets\">will provide access<\/a> to assets and DeFi services.<\/p>\n<p>In May, Chief Operating Officer Christine Brown, who heads the cryptocurrency unit of the company, said that in the app <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-to-add-option-to-withdraw-crypto-assets\">the ability to withdraw<\/a> digital assets to external wallets would appear.<\/p>\n<p>Recall that media reports indicated that Robinhood <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-robinhood-tests-feature-to-shield-crypto-investors-from-volatility\">is developing<\/a> tools to protect users from cryptocurrency market volatility.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday, July 29, the stock- and cryptocurrency-trading app Robinhood conducted its initial public offering on the Nasdaq.<\/p>\n","protected":false},"author":1,"featured_media":46932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[768,1234,1211],"class_list":["post-46931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nasdaq","tag-robinhood","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46931"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46931\/revisions"}],"predecessor-version":[{"id":46933,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46931\/revisions\/46933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46932"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}