Many 'apes' on Reddit are sitting out the Robinhood IPO

There appear to be a lot of angry individual investors — the so-called apes of Reddit — who want nothing to do with the company or the stock. Some are even threatening to short the stock, betting it will go down. Shares were down about 5% in late afternoon Thursday after opening at the initial public offering price of $38. Robinhood had fallen as much as 10% at one point.Investors are resentful toward Robinhood for temporarily halting purchases of GameStop (GME) and other meme stocks earlier this year when big institutions were trying to sell them. One Reddit poster on a WallStreetBets thread dedicated to the Robinhood IPO wrote

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Commerce platform ShopUp raises $75 million led by Valar in Bangladesh’s largest funding

ShopUp, a startup that is digitizing neighborhood stores in Bangladesh, has raised $75 million in a new financing round that is also the largest...

San Jose police investigating ‘suspicious’ death across from City Hall

San Jose police are investigating a suspicious death across in downtown. Officers were in the 200 block of E. Santa Clara Street. A KPIX...

Critter Corner: Sudden change can be unsettling for cats

Dear Critter Corner: I recently had my house remodeled, during which my cat disappeared into the closet for several days. He just now is...