Share this article
Robinhood Falls in Trading Debut
Shares of the popular zero-commission trading app opened down as much as 10% on Thursday before closing the day down 8.4%.
By Nelson Wang
Updated Sep 14, 2021, 1:32 p.m. Published Jul 29, 2021, 5:04 p.m.
Make us preferred on Google
Shares of stock trading app Robinhood closed down more than 8% in its stock market debut on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Shares priced on Wednesday evening at $38 a share, towards the low end of its trading range and valuing the company at $32 billion. The company sold 52.4 million shares and raised $1.89 billion.
- Trading was volatile at the start and shares initially fell as much as 10%. The stock recovered some of those losses before again drifting lower, finishing the day down 8.4% to $34.82. The company is trading on the Nasdaq under the ticker symbol HOOD.
- The company has significant crypto ambitions, with 17% of its overall revenue coming from crypto transactions in the first quarter of the year. Customers can currently buy and sell bitcoin, ether and dogecoin.
- Robinhood unconventionally offered a portion of its initial public offering to users via its app, a strategy some consider to be a risky gamble.
UPDATE (July 29, 20:21 UTC): Updated with final closing price.
Read more: Robinhood Under Investigation for Finra Registration Violation
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Macro fears mask Ethereum’s momentum, SharpLink CEO says
SharpLink CEO Joseph Chalom argues that macro uncertainty is hiding a massive institutional shift toward Ethereum-based tokenization.
What to know:
The context: Former BlackRock Head of Digital Assets Strategy, and SharpLink CEO, Joseph Chalom says institutional giants are betting heavily on Ethereum to serve as the global infrastructure for asset tokenization, ignoring current price stagnation.
He outlines three key drivers for a projected 10x surge in Ethereum activity this year:
- BlackRock’s Larry Fink has signaled strong conviction that Ethereum will be the "toll road" for tokenized assets.
- Over 65% of all stablecoins and tokenized assets live on Ethereum, dwarfing Solana by a factor of ten.
- High-value projects prioritize Ethereum's decade-long record of security and liquidity over faster, cheaper alternatives.
Top Stories
