Robin Hood’s Hood,
The spiritual journey from the meme stock launchpad to the actual meme stock is complete… and it didn’t even take a week.
The no-fee trading app halved its stock on Wednesday morning after the stock rose more than 40% to $78 a share in early trading, up 120% from its first IPO price since Thursday. Wednesday’s meteoric move comes with no real news from the company, but with social media booming, the biggest twin indicator is that a stock has gone full meme.
According to data from HypeEquity, which tracks social media sentiment on a personal ticker, mentions of Robinhood stock soared 23,000% late Tuesday and continued to rise in Wednesday’s session.
Those mentions of Robinhood shares were dominated by keywords such as “options,” and “buy,” which mostly reflected bullish sentiment on the stock, but “puts” was also a popular keyword and could be detected by a closer look on Reddit boards. Turns out that many retail investors who have a complicated relationship with the company may be hesitant about letting their once beloved trading platform join the ranks of Gamestop GME,
and AMC Entertainment AMC,
On Mount Olympus of Mem Stock.
Reddit user CelestialProphet posted on WallStreetBets, “It’s really nice to walk out with some profit this time around.” “Good luck to those still playing HOOD.”
Others took a more sarcastic approach.
“Hood will be 120 or 40” [end of day], “Guessed user mdubyo. “And I’m here for it.”
A popular post on the subreddit Superstone called for a ban on all mention of Robinhood, arguing that the stock’s growing popularity had disorganized a board made for GameStop diehards.
Many of the answers in the thread took on the increasingly popular theory that Robinhood stock was being used by hedge funds as a purposeful distraction from other meme stocks, which retail investors could use as their own, in a relentless effort to prevent short squeezes. Commit to pulling even after January. Robinhood’s attempt to stop trading on some meme stocks at the height of the squeeze was somewhat suppressed.
“I don’t give a damn if Vlad’s turd rockets or goes down in flames,” referring to Robinhood co-founder Vlad Tenev, offering Equal-Park-769.
But Wednesday’s volatility, despite caution and animosity, showed that a lot of people on social media are talking about Robinhood, and some are buying shares in the company, thanks to that interest, though nothing new said. can go.
Like it or not, Robinhood is a meta-meme, just ask Kathy Wood.