Wednesday’s meteoric rise in Robinhood HOOD, +50.41% shares caught much of Wall Street off guard, and left some in the retail space baffled as the no-fee trading app appeared to fast-track itself into a coveted meme space.Our call of the day from VandaTrack, a tracker of individual investor purchases, offers a glimpse at just how far that push might go for Robinhood, which just a week ago suffered a disastrous debut.
VandaTrack data also shows HOOD was the third-most purchased stock — $50.5 million — on retail platforms Wednesday. A total of $467 million buys and sells for that stock placed it fourth in volume behind a mega S&P ETF SPY, -0.49%, chip stock AMD AMD, +5.52% and COVID-19 mMRA vaccine maker Moderna MRNA, +8.42% on the day.
Earnings are rolling in from Cigna CI, -1.06%, Cardinal Health CAH, -1.09%, Duke Energy DUK, +0.11%, Marathon Oil MRO, -4.33%, and Kellogg K, -2.50%, with Expedia EXPE, -0.99% and American International Group AIG, -1.36% due after the close.
How it's the most hated company on the market
No.
Not a meme stock though...just a joke.
really? aren't they about to unload 98 million shares?