Why Is Robinhood Stock Surging on Thursday?
Robinhood traded higher on Thursday after Robinhood Ventures Fund II launched on the NYSE following its $225.5 million IPO.
Robinhood just raised a big pile of money ($225.5 million) by selling new shares to the public, which got people excited about the company. When lots of people want to buy a stock right after big news like this, the price goes up—but that doesn't tell us yet if the company is doing better or worse.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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