Robinhood stock, ticker symbol HOOD closed at $70.39 today. The stock has is dropping after hours. Today’s momentum reached 172 million in volume. Will HOOD stock be able to keep the momentum going?
Welcome to Franknez.com – today I want to discuss Robinhood stock news. Robinhood has been all over the place with the media. For the most part, it’s been negative. So, lets talk about it.
Robinhood Stock Surges Past IPO Price
Robinhood went public on Thursday, July 29th on the Nasdaq under ticker symbol HOOD. The stock’s IPO price was $38 but fell 8% it’s first day due to a massive selloff from IPO shares by none other than Robinhood’s own CEO, Vlad Tenev.
Cathie Wood, CEO of Ark Invest took advantage of the dip and bought 1.3 million shares of Robinhood Stock. Ark Invest has refrained from commenting.
Robinhood is currently one of Fidelity’s “top traded stock” which has sparked a small chain reaction of investor interest. It’s no surprise the general public, who is unaware of Robinhood’s and Citadel’s malpractice in the market, have hopped on the Robinhood stock train.
Contrary to what mainstream finance platforms are saying, Robinhood stock has not been a top mention on Reddit’s WallStreetBets. This deceit has me thinking whether the media is trying to redirect retail investors to buy Robinhood stock.
A diversion if you ask me.
22 Million Users And Falling
Investors are also moving to exchanges such as Kraken for their cryptocurrency. Will ignoring these two factors prove to be a good idea for investors buying Robinhood stock? We’ll find that out with time.
Will Robinhood Stock Keep Going Up?
Atlantic Equities gave Robinhood an overweight rating and a $65 per share price target within it’s first 12 months, ahead of its IPO. Investors are betting on the idea that Robinhood’s referral program will pave the way for future growth.
But will it be enough? Big YouTubers in the finance niche have even stopped sharing their Robinhood referral links to their mass audience.
While large institutions and investors might be able to support their billionaire friend, retail investors have a different sentiment.
Retail Investor Sentiment
Reddit stocks are stocks the Reddit community loves. Go to r/wallstreetbets there is very little to no talks about HOOD stock. The little there is isn’t positive at all.
Retail investors don’t trust the company anymore and for that reason, Robinhood is NOT a Reddit stock.
Robinhood will grow if new retail investors flock towards the app again and if they invest in the stock. However, retail investors are warning new retail investors about the GameStop and AMC manipulation.
With several 100/100 short squeeze scores, AMC’s short squeeze has been prolonged through numerous naked shorting tactics behind dark pool data.
So, although Robinhood has a rather great app interface, the new generation of retail investors ties them too closely to Citadel Securities; the hedge fund who tried to bankrupt AMC and GameStop.
Let me know what you think
Are you investing in HOOD stock? Where do you think Robinhood is headed? What would make you trust in Robinhood again?
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