|
Robinhood, which has been at the center of the "meme stock"
phenomenon this year, posted its first results as a public
company, offering a glimpse into the growing clout of retail
investors.
The company's stock, itself dubbed the "meme of memes", has been
on a roller-coaster ride since its market debut on July 29, when
it closed 8% lower. Since then, the stock more than doubled to
$85 through the first week of August, partly due to interest
from star investor Cathie Wood.
The shares were down 12% at $43.73 by 5:30 a.m. ET on Thursday
and were among the top 15 most traded stocks across U.S.
exchanges.
Social media chatrooms were abuzz with activity as users reacted
to the company's warning.
"I wouldn't buy this. (Too) many red flags. If you made money,
good, but this will never go to $80 again," a Stocktwits user
wrote on the trading-focused social media site, tagging
Robinhood's ticker $HOOD.
Message volume related to Robinhood spiked by nearly 36% on
Stocktwits, with positive and negative sentiment toward the
stock split evenly.
(Reporting by Sruthi Shankar and Medha Singh in Bengaluru;
Editing by Saumyadeb Chakrabarty)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
