Robinhood (NASDAQ:HOOD) stock is set to start trading today after briefing investors about its initial public offering (IPO) plans last week.
The Robinhood IPO will see the company listing shares on the Nasdaq Exchange under the HOOD stock ticker. The IPO prices these shares at $38 each. That’s at the low end of the company’s IPO price range of $38 to $42 per share.
Robinhood will be selling some 55 million shares in its IPO. This values the company at $32 billion. In addition to this, the trading platform has also set aside 35% of the offering for its customers. That’s a hefty amount being set aside for retail traders and makes this IPO stand out from others.
With news of the Robinhood IPO spreading, let’s see what traders on social media have to say about it.
HOOD Stock: What Traders Are Saying on Twitter
— Spica (@RestlessSpica) July 29, 2021
— JDauntless 🇿🇦 (@jdauntless85) July 29, 2021
Robinhood IPO $HOOD…. going to throw it out there and say it trades to $30 despite an issuance price of $38. Seems like the hive mind all has their fingers on the sell button
— SPACInsider (@spac_insider) July 29, 2021
Robinhood IPO. Would not touch it. Good luck to those who do.
— Killswitch (OLED Model) キルスイッチ (@IamKillswitch) July 29, 2021
Apes (LISTEN UP). Robinhood IPO is opening today. Pretty much the same exact price as AMC closed, do not feed into the bullshit. Do not sell ( I know you already know this ). Mainly to the new apes, amc is THE WAY. Or make money on the IPO, sell. Buy more #AMC 😉. $AMC
— Big Red 🦍🚀 (@BiggRedTV) July 29, 2021
Meme stock traders memeing on Robinhood as its IPO launches makes complete sense. When they needed it most earlier this year, it vanished by not allowing them to trade shares of popular stocks at the time, such as GameStop (NYSE:GME).
While we can’t say for sure if meme stock traders will ruin the Robinhood IPO today, it could happen. We’ll have to wait and see how the shares move after trading starts later today. Until then, enjoy the slew of memes popping up on Twitter (NYSE:TWTR) today.
Investors looking for more stock market news today will want to keep reading.
InvestorPlace keeps up with the market with our daily coverage of the biggest stock stories going around. A few examples to consider checking in on today include talk of DiDi Global (NYSE:DIDI) going private due to China’s regulations, new crypto coins coming to Binance, as well as the biggest pre-market stock movers this morning. You can learn all about these topics by checking out the following links!
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.