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Robinhood shares halted amid stock surge

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Robinhood shares were halted three times Wednesday, August 4.

Photo: Gabby Jones/Bloomberg via Getty Images
Shares in Robinhood were briefly halted three times Wednesday on the Nasdaq amid high volatility.

After shares dropped on its first day of trading to close at $35, shares surged Wednesday to as high as $85. As of 11:05am PT, shares were trading at about $72, up more than 50% on the day.

Some of the spike in share price was attributed to the stock's first day of options trading, according to WSJ. Options trading in all companies are a big source of Robinhood's revenue.

Tomio Geron

Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. He was also as a staff writer at Forbes covering social media and venture capital, and edited the Midas List of top tech investors. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

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