Baiju Bhatt and Vlad Tenev, founders of the trading platform, on Wall Street on the listing day for their companyRobinhood endured a torrid debut on the stock market yesterday after the American broking platform priced its multibillion-dollar flotation at the bottom of expectations and the shares then fell when they started trading. Shares in the California-based business tumbled by as much as 12 per cent on the Nasdaq exchange, from a listing price of $38 that had been set late on Wednesday night. SponsoredThe slide dealt a blow to what was already a disappointing initial public offering. While the listing had been highly anticipated and the flotation price had valued Robinhood at about $32 billion, the IPO came in at the low end of the $38 to $42-a-share range. That, and the subsequent share price decline, indicated muted investor demand for a company that

Source: The Times July 29, 2021 23:02 UTC