Robin News

Robinhood’s stock dropped as much as 17% to $58.30, after early investors proposed to sell up to 97.88 million of shares over time> None of the proceeds will be received by Robinhood

Robinhood has found support from some big names on Wall Street, including Cathie Wood, a star stock picker who focuses on innovative companies

While many were quick to downplay the stock’s reception as individual traders largely shunned buying during its first trading session, it did find backing from some high-profile investors

Shares were down 5% at $36.07 in early trading. At the opening price of $38, the brokerage would be valued at about $31.75 billion

Robinhood Markets Inc. is seeking a valuation of $35 billion in its initial public offering, just short of the highest analyst projections, as the free trading app advances toward a debut likely to draw in buyers from its own novice investor base.

Shares of GameStop and other companies tumbled in extended trading after Wallstreetbets, a discussion forum popular with retail traders on the Reddit website, briefly turned invitation-only

Robinhood was now considering whether to add a phone number along with other tools, the report said.

The group’s brand of indie folk has a quietly calming effect. Their new album, ‘Shore’, provides serenity during these troubled times

The new fundraising is an extension of the Series G round which was announced last month

Dan Sundheim’s D1 Capital Partners poured $200 mn into the seven-year-old firm, which was valued at $8.6 bn in July