Robinhood drops 12% in volatile public-trading debut after IPO valuing it at $32 billion

Vlad Tenev, CEO and co-founder, Robinhood.
Kimberly White/Getty Images for RobinhoodRobinhood whipsawed in its trading debut on Thursday, with shares initially jumping 6% before falling as much as 12%.The online trading app was valued at $32 billion when it priced its IPO at $38 per share on Wednesday.Robinhood raised $2.1 billion from its IPO and allocated a portion of shares to its user base.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Online trading app Robinhood