Robinhood surfs the retail trading wave

Robinhood.
(Image credit: Eugene Gologursky/Getty Images for Robinhood)

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After a rocky initial public offering, the app-based brokerage Robinhood roared back this week, splitting the firm's own loyal customers, said Aaron Pressman at The Boston Globe. Robinhood, the maker of an app that has defined stock trading for many Millennials, offered its clients the chance to get IPO shares at a price usually reserved for large institutions — only to see its stock plunge in its first day of trading. That initial decline last week added to a series of outages and other indignities that Robinhood's customers have endured. Buyers who held on to their stock for just a few days, though, saw a substantial profit. "After using the Robinhood app to trade stocks for about three years, starting when he was in high school," Northeastern University student Caio Almeida bought shares in the IPO and "isn't too worried about the early struggles." Almeida plans to stay with the stock for the long term. "There's been a gap in our financial system for years, which the founders of Robinhood have truly disrupted," he says.

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