As of 11:00 a.m. ET the stock indicated it would open around $39 a share.
On Tuesday, the IPO was priced at $38 a share, at the bottom of the expected range with the offering of 55 million shares expected to raise over $2 billion. The pricing values the company at $32 billion.
Robinhood has reserved up to 35% of its shares for retail investors for purchase on its platform, which is one of many reasons Jim Cramer is closely watching today's debut.
Following an interview with Robinhood CEO Vlad Tenev on CNBC, Cramer gave Action Alerts PLUS senior analyst Jeff Marks his top takeaways.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/29/21