August 5, 2021

On Wednesday, Robinhood Market surged 50%, leading the online broker’s shares to close at $70.39.

The stock rose above its initial offer price of $38 a share and posted its fourth consecutive day of straight gains.

This can be attributed to the popularity it gained with small-time investors when the volume of retail trading increased tenfold and the share rose by 24%.

The company’s shares last rose 14.9% to $53.5 on Wednesday, making it the second-most traded across U.S. exchanges in trading before the bell.

The company’s market capitalization rose to $58.8 billion, ahead of Twitter, Chipotle Mexican Grill and wealth manager T. Rowe Price.

For more information, read the original story in Reuters.