But despite the lackluster start, Robinhood has roared back to life in the past week. But notably, shares of Robinhood debuted at $38 — the same price asin its May 2012 IPO. Robinhood has certainly had a rollercoaster ride so far: The stock tumbled 8% on its first day and fell as low as $33.25 the second day. But it's since roared back up to more than 40% above the IPO price and is now trading around $54, even briefly hitting a high of $85 last week. "The platform that powered the meme stock movement has itself become a meme stock — sometimes to Robinood's benefit and sometimes to its detriment," said Jonathan Anastas, chairman of Alpha Esports Tech, a mobile gaming firm.

Source: CNN August 10, 2021 17:12 UTC