<p>Shares of Robinhood Markets Inc jumped more than 15% in premarket trading on Wednesday as interest from star fund manager Cathie Wood and small-time traders set up the stock for a fourth session of gains after its underwhelming IPO last week.</p>.<p>The 24% surge in Robinhood's stock on Tuesday elevated it above the $38-price set in last Thursday's IPO and gave the company a market capitalization of about $39 billion.</p>.<p>Its stock was last up 14.9% at $53.5 on Wednesday, and the second-most traded across U.S. exchanges in trading before the bell.</p>.<p>"People are trying to jump on the back of Cathie Wood's vote of confidence in Robinhood shares," said Thomas Hayes, managing member at Great Hill Capital in New York.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/what-robinhoods-ipo-filing-says-about-the-reddit-army-1004034.html" target="_blank">What Robinhood's IPO filing says about the Reddit army</a></strong></p>.<p>"The catalyst was certainly Cathie Wood putting in a sizable position after everyone was downbeat after the IPO."</p>.<p>Wood's Ark Fintech Innovation ETF bought another 89,622 shares of Robinhood on Tuesday, and the stock now amounts to about 0.9% of its portfolio, according to a summary of the fund's daily trading.</p>.<p>Overall, Wood's flagship ARK Innovation ETF has accumulated nearly 5 million Robinhood shares, worth about $229 million.</p>.<p>Robinhood shares also saw a surge in interest from small-time investors, with retail trading volume rising tenfold on Tuesday, according to Vanda Research.</p>.<p>It was the most mentioned stock on WallStreetBets, the Reddit platform at the center of this year's "meme stock" rally, over the past 24 hours, according to sentiment tracker SwaggyStocks.</p>
<p>Shares of Robinhood Markets Inc jumped more than 15% in premarket trading on Wednesday as interest from star fund manager Cathie Wood and small-time traders set up the stock for a fourth session of gains after its underwhelming IPO last week.</p>.<p>The 24% surge in Robinhood's stock on Tuesday elevated it above the $38-price set in last Thursday's IPO and gave the company a market capitalization of about $39 billion.</p>.<p>Its stock was last up 14.9% at $53.5 on Wednesday, and the second-most traded across U.S. exchanges in trading before the bell.</p>.<p>"People are trying to jump on the back of Cathie Wood's vote of confidence in Robinhood shares," said Thomas Hayes, managing member at Great Hill Capital in New York.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/what-robinhoods-ipo-filing-says-about-the-reddit-army-1004034.html" target="_blank">What Robinhood's IPO filing says about the Reddit army</a></strong></p>.<p>"The catalyst was certainly Cathie Wood putting in a sizable position after everyone was downbeat after the IPO."</p>.<p>Wood's Ark Fintech Innovation ETF bought another 89,622 shares of Robinhood on Tuesday, and the stock now amounts to about 0.9% of its portfolio, according to a summary of the fund's daily trading.</p>.<p>Overall, Wood's flagship ARK Innovation ETF has accumulated nearly 5 million Robinhood shares, worth about $229 million.</p>.<p>Robinhood shares also saw a surge in interest from small-time investors, with retail trading volume rising tenfold on Tuesday, according to Vanda Research.</p>.<p>It was the most mentioned stock on WallStreetBets, the Reddit platform at the center of this year's "meme stock" rally, over the past 24 hours, according to sentiment tracker SwaggyStocks.</p>