Robinhood (HOOD) Stock Price Live

Robinhood Stock

Robinhood went public on Nasdaq Stock Exchange in July 2021, with 58 million shares, and each share was valued at $38 USD. Though the price reached an all-time high value in August 2021, since then the stock price was not recovered. It has been struggling to reach its IPO price again for the past few years.

By trading under the ticker symbol HOOD, the company became popular among young investors with its zero-commission trades.

What is Robinhood?

By offering commission-free trades, the Robinhood online brokerage firm facilitates the trading of various financial instruments. It supports the trading of stocks, exchange-traded funds, cryptocurrencies, and individual retirement accounts. Over 23 million net cumulative funded accounts are there on Robinhood as per the report published in June 2023.

Having experience in building high-frequency trading platforms, Vladimir Tenev and Baiju Bhatt founded the company in April 2013. Inspired by the legendary figure called Robin Hood, who took from the rich and gave to the poor, the company was named after him. The name aligns with their mission of achieving inclusivity in financial instruments trading.

On July 29, 2021, Robinhood went public on the Nasdaq exchange and its initial stock price was $38 per share. After reaching an all-time high value, the price fell again. Since then, it didn’t recover fully, due to various regulatory and security-related factors.

The platform recently announced that it is going to acquire X1, a credit card financial technology company X1 for $95 million USD. X1 is a start-up company that offers credit cards with no fees and even rewards users on every purchase made with their credit cards. Robinhood stated that it plans to serve all the financial needs of its customers with this acquisition.

What’s Unique About Robinhood?

Traditional online brokerages charge $5 to $10 per trade though it actually costs them fractions of a penny. They even have minimum account limits of $500 to $5,000. By offering zero-commission trades and no minimum account limits, Robinhood became popular within a few years, especially among millennial investors.

Robinhood transformed the landscape of the stock industry by introducing a $0 trading cost for stock investment. It combined this enticing feature with its user-friendly mobile application for its users. Moreover, it incentivized users to invite their friends and family onto the platform. It expanded the features and benefits like offering crypto trading, margin buying, no minimum account limits, etc.

The performance of the Robinhood platform directly impacts its stock (HOOD) price. So, before buying Robinhood stock HOOD, you must consider the market conditions and the platform’s performance. The Robinhood stock price is on the uptrend as of July 2023, however, do your own research and make investments that pay off in the long term.