Robinhood Is More Fun With Options
Also lockups, securities fraud, D&O insurance and soccer transfer prices.
Programming note: Money Stuff will be off tomorrow, back on Monday.
We talked yesterday about the wild rally in Robinhood Markets Inc. stock, which was up 24% on Tuesday and then up another 50% yesterday. It closed yesterday at $70.39, well above the $38 price in its initial public offering a week ago. My analysis of the situation was basically to shrug and say “meme stocks, man,” but I did point to a couple of factors — buying the dip, diamond hands — that are often important to meme-stock rallies.