Robinhood Stock Once Fell 82% Below Its IPO Price. $10,000 Invested at the IPO Has Still More Than Tripled.
Anyone who held on had to go through an 82% drop first. What changed?
Overview
Robinhood Markets (NASDAQ:HOOD) went public on July 29, 2021, at $38 a share. Ten thousand dollars at that price bought around 263 shares. At about $119 as I write this, they're worth about $31,300.
That's a gain of more than 200%, far above what the S&P 500 (SNPINDEX:^GSPC) returned during the same stretch.
Details
But getting there took plenty of patience. The stock spent most of its first year as a public company dropping. And I'd say the business an IPO buyer owns now makes its money in very different ways from the one that went public.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.