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Investors Can Sell a Lot of Robinhood Stock. It’s Not All Bad News.

·3 min read
Investors Can Sell a Lot of Robinhood Stock. It’s Not All Bad News.
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Stock in the brokerage app (HOOD)—the company that says its mission is to democratize finance for all—was down big on Thursday on news that early investors can sell stock. The drop follows a filing from Robinhood (ticker: HOOD) indicating early investors can sell about 98 million shares. All appear to be early investors who had received convertible notes that converted into common stock when the company’s initial public offering wrapped up.