Robinhood shares fly again, soaring as much as 80%
CBSN
Shares of Robinhood — the brokerage app popular among millennials for its commission-free trading — surged again on Wednesday, rising so much that trading was temporarily brought to a halt three times in the first 30 minutes of trade.
With less than a hour of trade remaining, the online broker was up 48% at $69.39, as of 1:45 p.m., accelerating what's already been a blistering week of gains. Earlier, the stock was briefly up by 81% to hit $85 a share. The comeback was all that much more remarkable after last week's lackluster debut for the stock, when it sank 8.4% from its initial price of $38 on Thursday. Even ahead of its initial public offering, experts warned that Robinhood's stock could be primed for a more jagged ride than others on Wall Street because of its popularity among smaller investors.
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