vlad tenev and baiju bhatt attend robinhood markets ipo listing day on july 29 2021 in new york city shares of robinhood popped again friday as the volatile stock heads to end its first full week of trading up more than 55 robinhood shares rose 79 to 5501 on friday after whipsawing this week the newly public trading app had a memestock moment followed by a surprising share sale announcement on friday robinhood reiterated it is not selling any stock after thursdays news that existing shareholders will sell up to 979 million shares over time that news knocked the stock down by 27 on thursday robinhood is not itself selling any additional securities but filed the resale s1 on behalf of certain of its shareholders pursuant to a preexisting contractual obligation robinhood said the stock trading app also clarified friday morning that these sales would not start right away easing concerns about an immediate jump in stock supply that could weigh down the shares robinhood said these sales cant start until sec approval for the transaction which shouldnt occur until after robinhoods second quarter earnings on aug 18 the shares took off friday in premarket trading after the robinhood clarification the rise and fall of robinhood marked a stark contrast to the freecommission brokerages lackluster debut on the nasdaq last week