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Stock Market Today With Jim Cramer: PayPal, Robinhood

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"That app is about studying and owning a piece of America," Cramer said of Robinhood ahead of its debut Thursday. Robinhood shares changed hands at $38 each on their Nasdaq debut Thursday, and immediately slumped as much as 10% shortly after, indicating a difficult opening session for the popular, yet controversial, online trading app. Robinhood sold 55 million shares at the lower end of its $38 to $42 target late Wednesday, raising $2.1 billion and valuing the group -- and its 21.3 million monthly active users -- at around $31.8 billion.