Robinhood's stock soars toward first close above IPO price

Shares of Robinmood Markets Inc. HOOD, +17.82% changeable up 16.5% successful midday trading Tuesday to $43.88, putting them connected way to adjacent supra their initial nationalist offering price for the archetypal time. On the no-fee trading app's nationalist debut past Thursday, the banal lone concisely traded supra the $38 IPO terms earlier closing that archetypal time 8.4% beneath that price. On Friday, the banal traded successful an intraday scope of $33.25 to $36.98 earlier closing up 1.0% astatine $35.15, past stayed successful a scope of $35.30 to $37.98 earlier closing up 7.2% astatine $37.68 connected Monday. At existent prices, Robinhood's marketplace capitalization has climbed to $36.8 cardinal from $29.3 cardinal astatine past Thursday's close. The stock's rally comes connected a time that the Renaissance IPO ETF IPO, -0.19% inched up little than 0.1% and the S&P 500 SPX, +0.60% gained 0.4%.