I mean, in a narrow financial sense that is true. Robinhood got a good deal selling their stock before it fell. But Robinhood is selling a story about democrati

I mean, in a narrow financial sense that is true. Robinhood got a good deal selling their stock before it fell. But Robinhood is selling a story about democratizing access to markets and made a big deal about allocating a big chunk of their order book to their own customers / retail investors. The fact that it fell so much is not a good look, and that may matter more to them than getting the best deal on this capital when capital is plentiful and cheap. I don’t think this is a good outcome for them.