After making unwanted headlines with its disappointing initial public offering (IPO) debut on Nasdaq last week, shares in stock and cryptocurrency trading app Robinhood (NASDAQ:HOOD) have seen wild volatility in recent days. In an ironic twist that saw the price of HOOD stocks soar by as much as 82% in one day, the app that has so often been the beneficiary of frenzied meme stock trading itself began to resemble the latest online craze.
Since its debut on Nasdaq on July 29, HOOD is up 102% and is trading at $70.39 at the time of writing, down just slightly from its peak on Wednesday at $85. In response to such wild volatility and an exponential surge in retail trading volume, Nasdaq dealt the company a dose of its own medicine by halting trading multiple times.