Is the SpaceX IPO Enough to Rescue Robinhood Stock?
SpaceX gave 30% of IPO shares to retail investors, according to reports.
Is the SpaceX IPO Enough to Rescue Robinhood Stock?
Overview
Robinhood Markets (NASDAQ: HOOD) was one of five brokerages chosen to offer Space Exploration Technologies (SpaceX) in its record-shattering initial public offering (IPO) last week. Robinhood stock is 36% off its highs, but it's up more than 6% since the IPO. Can SpaceX breathe new life into Robinhood stock?
Robinhood was the original fee-free trading app, setting a trend for the broader investing community. It's been at the forefront of fintech innovation, helping to level the playing field for retail investors and providing access to different types of instruments that are usually left to institutional investors.
Details
It's not surprising that it offers IPO access, another area where retail investors have historically been left out while early investors took home gains. And unlike other brokerages that offer IPO access, it doesn't require a minimum balance or net worth.
Source
Originally published at www.fool.com.
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