Robinhood stock trading halted due to volatility
Robinhood shares were stopped from trading on Wednesday as the stock was determined to be volatile following a surge among private investors.
At their peak, the HOOD stocks were up 65% to sell for around $77 per share. The surge for the week amounted to 120%, while the highest reached price was over 123% more than the company’s debut on the markets last week.
The rally continued for the second consecutive day after Robinhood shares gained 20% in the previous trading session and another 17% in the premarket. Media reports suggested the company is quickly turning into a new “meme” stock, pushed by readers of the Reddit WallStreetBets message board.
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