<p>Shares of Robinhood Markets Inc rallied 10% on Friday after a roller-coaster week that has made the online brokerage among the hottest of so-called "meme" stock and added $18 billion to its value.</p>.<p>Robinhood, whose smartphone trading app has taken off this year along with a frenzy of trading by retail investors on Reddit, was last at $56.20, up almost 50% from the price in its initial public offer last week.</p>.<p>The company plans to announce its quarterly results on Aug. 18, Robinhood said in a press release on Friday.</p>.<p>Robinhood also said it does not expect that it will be in a position "to obtain a declaration of effectiveness" from the Securities and Exchange Commission, which would clear the way for certain shareholders to sell their holdings, until after it reports its quarterly results.</p>.<p>The stock stumbled in its first day on Wall Street before lifting off this week and surging as high as $85 on Wednesday, evocative of rallies in GameStop and AMC Entertainment that Robinhood trading helped fuel earlier this year.</p>.<p>At its market capitalization of over $47 billion, Robinhood is more valuable than companies, including Spotify Technology and Walgreens Boots Alliance.</p>.<p>Retail investors made net purchases of $8 million worth of Robinhood shares on Thursday, according to Vanda Research, even as the stock tumbled 28% after a filing showed more than a dozen early investors could sell their stock over time.</p>.<p>On Friday, Robinhood was by far the most discussed stock on Reddit's wallstreetbets trading forum, with most comments reflecting positive sentiment, according to Swaggystocks.com, which tracks comments on Reddit.</p>.<p>Robinhood was traded more than any other stock on Fidelity's online brokerage, with buy orders outpacing sell orders by about 1.2 to 1, data on Fidelity's website showed on Friday.</p>.<p>Star investor Cathie Wood's Ark Innovation ETF now owns Robinhood shares worth about $275 million after its stake increased by about 24 thousand shares on Thursday, according to data on the fund's website.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Shares of Robinhood Markets Inc rallied 10% on Friday after a roller-coaster week that has made the online brokerage among the hottest of so-called "meme" stock and added $18 billion to its value.</p>.<p>Robinhood, whose smartphone trading app has taken off this year along with a frenzy of trading by retail investors on Reddit, was last at $56.20, up almost 50% from the price in its initial public offer last week.</p>.<p>The company plans to announce its quarterly results on Aug. 18, Robinhood said in a press release on Friday.</p>.<p>Robinhood also said it does not expect that it will be in a position "to obtain a declaration of effectiveness" from the Securities and Exchange Commission, which would clear the way for certain shareholders to sell their holdings, until after it reports its quarterly results.</p>.<p>The stock stumbled in its first day on Wall Street before lifting off this week and surging as high as $85 on Wednesday, evocative of rallies in GameStop and AMC Entertainment that Robinhood trading helped fuel earlier this year.</p>.<p>At its market capitalization of over $47 billion, Robinhood is more valuable than companies, including Spotify Technology and Walgreens Boots Alliance.</p>.<p>Retail investors made net purchases of $8 million worth of Robinhood shares on Thursday, according to Vanda Research, even as the stock tumbled 28% after a filing showed more than a dozen early investors could sell their stock over time.</p>.<p>On Friday, Robinhood was by far the most discussed stock on Reddit's wallstreetbets trading forum, with most comments reflecting positive sentiment, according to Swaggystocks.com, which tracks comments on Reddit.</p>.<p>Robinhood was traded more than any other stock on Fidelity's online brokerage, with buy orders outpacing sell orders by about 1.2 to 1, data on Fidelity's website showed on Friday.</p>.<p>Star investor Cathie Wood's Ark Innovation ETF now owns Robinhood shares worth about $275 million after its stake increased by about 24 thousand shares on Thursday, according to data on the fund's website.</p>.<p><strong>Check out DH's latest videos:</strong></p>