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Robinhood’s Debut Drop Threatens Record Year’s IPO Pipeline (1)

July 30, 2021, 1:25 PM

Sometimes all it takes to tip the market over from hot to overheating is just one deal.

Following a yearlong streak of blockbuster capital markets transactions, bankers may finally get a breather after Robinhood Markets Inc.’s muted initial public offering and rock slide of a trading debut.

The trading platform’s $2.1 billion IPO opened flat in New York on Thursday before closing 8.4% below the offer price. The cooling market prompted at least three listing candidates to delay debuts intended to raise close to a combined $3 billion this week.

Just seven months into the year, U.S. IPO volume ...

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