Robinhood shares dive 27.6%; filing sparks worries early investors could sell

Published by
Reuters

(Deletes reference in paragraph 4 to future share sales depending on stock performance targets, which is incorrect) (Reuters) -Shares of Robinhood Markets Inc tumbled on Thursday, snapping a four-day winning streak, after the newly public online brokerage said early investors may sell nearly 98 million shares. Robinhood’s shares finished down 27.6% at $50.97 a day after they jumped more than 50%. The company went public on July 29 at $38, with its shares initially falling below the public offering price before galloping higher. In a regulatory filing https://sec.report/Document/0001628280-21-0…

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