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Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

Shares in the popular online brokerage Robinhood have spiked over 30% in after hours trading following billionaire Sam Bankman-Fried acquiring a 7.6% stake in the company.
Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain.According to a securities filing made with the Securities and Exchange Commission on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases disclosed by Bankman-Fried reportedly began in mid-March and continued through until Wednesday.In the securities filing, Bankman-Fried made it clear that he had, “no intention of taking any act

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We współpracy z: https://cointelegraph.com/news/robinhood-shares-spike-30-after-sam-bankman-fried-buys-650m-stake

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