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Robinhood drops below initial IPO price – will it up?

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Robinhood has sunk in its initial public offering after failing to win over the retail investors its needs for its long-term growth

The online trading platform dropped as much as 12 percent, before rising closer to its $2.1 billion IPO

Robinhood promotes itself as the go-to platform for young millennials who are looking to crack into the share market.

It shares opened at the $38 offer price, but fell to around $35 which gave the company a $31 billion market value when you take into account employee stock and other holdings.

This figure is well below the $36 billion valuation the world was waiting for.

Analysts say the trading app had a large portion of shares allocated to retail stock buyers… and ended up selling around 25 percent of these, not the 35 percent that was set aside.

The IPO was also plagued by Reddit users, with users urging other investors to avoid Robinhood altogether.

It comes as investors may start to doubt whether or not the platform can actually deliver on its promise to “democratise” and expand access to capital markets.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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China’s shadow banking sector under the microscope

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How will China’s investigation into Zhongzhi Enterprise Group impact the shadow banking industry and the nation’s financial stability?

 
China has launched an investigation into the Zhongzhi Enterprise Group, a major shadow bank, over alleged financial crimes.

Authorities are scrutinizing the group’s operations amid concerns about illicit activities that may have repercussions on the country’s financial stability. #featured

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Shoppers angered at major U.S. retailer’s “unchanged” Black Friday sales

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Target in the United States has come under scrutiny for offering identical prices in its ‘Black Friday deals’ as those available throughout the year.

Shoppers are left perplexed by the lack of discounts, with many questioning the authenticity of the so-called Black Friday bargains.

Concerns arose when savvy consumers noticed that the prices of various products in Target’s Black Friday promotion were the same as those listed in previous months.

Shoppers took to social media to voice their frustrations, with one customer stating, “It’s the same, I don’t get it.” This revelation has raised questions about the transparency and ethics of retailers during the holiday shopping season.

While Black Friday traditionally marks the start of the holiday shopping frenzy, with retailers offering significant discounts to entice shoppers, Target’s decision to maintain regular prices has left shoppers wondering if they are truly getting a deal.

This has led to a broader discussion about the consumer experience during Black Friday and whether the shopping event has lost its original appeal.

With the rise of online shopping and increased competition among retailers, consumers are more price-conscious than ever.

Target’s pricing strategy has ignited a debate about the future of Black Friday and whether it can continue to attract shoppers with unchanged prices. As the holiday season unfolds, consumers are left to decide whether to seek out genuine deals or shop elsewhere.

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Remote workers shoulder rising job-related costs

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As the global workforce continues to adapt to the remote work revolution, a new concern is emerging among employees – the increasing burden of work-related expenses.