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Robinhood debuts with sharp falls on Wall Street and below its initial price



Robin Hood It has not started with a very good foot in the stock market. At the beginning of the session, more than 10% was left on the Nasdaq, recovering slightly in the middle of the session but finally closing below $ 35 per share.

In this way, it has achieved a stock market valuation of 32,000 million dollars.

The application that aims to democratize the markets for amateur investors, has sold 52.4 million shares, for which it has raised close to 2,000 million euros. Its co-founders Vlad Tenev and Baiju Bhatt have each brought in about $ 50 million in securities each.

Goldman Sachs and JP Morgan it has been the banks that have led the operation. Subscribers have a purchase option for an additional 5.5 million shares.

Robinhood generated last year $ 7.45 million of benefits on revenue of 959, coming from losses of 107 million in 2019.

However, in the first months of the year the brokerage has lost $ 1.4 billion from emergency fundraising during GameStop's January boom.



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