Is Robinhood Stock A Buy Right Now After Plunging On Q3 Earnings?

Robinhood (HOOD) $ロビンフッド・マーケッツ (HOOD.US)$ is the popular stock market-trading app among young and first-time investors and traders. After the company's hyped IPO on July 29, is Robinhood stock a buy in the current stock market rally?

Robinhood Stock IPO
On July 28, Robinhood priced 55 million shares at $38 a share, raising $2.1 billion. But the pricing came in at the low end of its expected range. The stock closed the day at 34.82, more than 8% below the IPO price.

The app is popular among young and first-time investors and traders. Millions of young investors flocked to Robinhood during the meme-stocks trading mania for stocks like GameStop (GME) $ゲームストップ クラスA (GME.US)$ and AMC Entertainment (AMC) $AMCエンターテインメント クラスA (AMC.US)$ . Excitement around cryptocurrencies like Bitcoin also fueled interest in the app.

"While we are only six years into our journey, we have already seen profound transformations in how people think about their money," Chief Executive Vlad Tenev and Chief Creative Officer Baiju Bhatt said in written remarks with the Robinhood IPO filing.

Article excerpted from Investor's Business Daily.