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Robinhood plunges 28% as post-IPO rally fizzles | By Cs pattnaik

 

Robinhood plunges 28% as post-IPO rally fizzles | By Cs pattnaik 



Shares of Robinhood plunged again on Thursday, abruptly ending a rally that appeared to signal the online broker was bouncing back from last week's dismal public trading debut.

Robinhood's stock fell 28% to close at $50.97. The stock had been rising this week, after a disappointing IPO last week when Robinhood shares dropped 8% from its IPO price of $38 on its first day of trading. Shares of HOOD climbed to $70 as of Wednesday, surging 100% for the week.


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