A Bloomberg analysis of the program, IPO Access, suggests it has been a flop for investors so far.
he initiative, which allowed users to buy shares of buzzy companies like Sweetgreen Inc. and Allbirds Inc. before they debuted on stock exchanges, resulted in losses for customers who still hold the shares. In an already dismal market for IPOs, those offered by Robinhood have performed even worse.
All 23 IPOs that Robinhood opened up to its customers have declined by double-digit percentages since the stocks debuted. Five — Iris Energy Ltd., Sono Group NV, Vaxxinity Inc., Stronghold Digital Mining Inc. and Argo Blockchain Plc — lost at least 89% of their value.
‘Enforcement 40’ for 2020
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