Shares of Robinhood Markets expanded more than 15% in pre-market trading on Wednesday as interest from Wood and retail traders, according to Reuters on Wednesday.
The 25% surge in Robinhood stocks pushed it over the $38-price set in the IPO and gave the company a market capitalization of around $39 billion.
Its stock was last 14.9% at $53.5 on Wednesday and the second-most traded across U.S. exchanges in trading before the bell.
Wood’s Ark Fintech Innovation ETF purchased extra 89,622 shares of Robinhood on Tuesday, and the stock accounts for 0.9% of its portfolio. The fund has accumulated close to 5 million Robinhood shares, worth about $229 million.
Robinhood shares also soared from interest from small-time, retail investors pushing retail trading volume tenfold on Tuesday.
