The report comes at a time when the Chinese regulatory authorities are imposing strict measures on local tech companies over concerns of data security.
Although Jim Cramer is urging Robinhood investors to trim some of their positions, he also advises that they still retain a sizable stake in the company.
The ATH record of the HOOD stock might have been sparked by the positive sentiments on the growth potentials of the Menlo Park-based firm.
Chinese carmaker Li Auto set to offer secondary listing in Hong Kong as a hedge against geopolitical risks between America and China.
Robinhood shares were initially priced at $38, however, closed the day at around $34.82, they had dropped by almost 10 percent on the first day of trading.
The HOOD stock remained under pressure as retail investors resolved to profit-booking amid lingering anger of customers and regulators cracking down.
The shares are expected to begin trading on the Nasdaq Global Select Market on July 29, 2021, under the ticker symbol “HOOD”.
Duolingo made a strong debut at Wall Street raising over $500 million worth of funds. The company plans to use these resources for expanding to overseas markets.
In the IPO filing, Stronghold noted that with the fundraising, it will purchase an additional 27,300 crypto miners to expand its operations and increase its hash rate.
The US IPO market has seen good growth over the years per the number of firms that went public and the valuations raised.
With stellar earnings in Q1 2021 and a growing customer base, Duolingo is seeking higher valuations as it goes for public listing on Wall Street.
The new announcement made by the Robinhood CEO provided no specifics on the crypto wallet launch.
Binance US will be competing for a public spot proceeding despite facing allegations from global regulators.
The public stock market listing plans by Argo Blockchain will help complement its ongoing efforts to expand to American markets.
NSAV will become the second cryptocurrency firm to be publicly traded and listed in the United States.