Robinhood, the trading app synonymous with hot stocks, got a cold reception from investors in its own stock-market debut.

The investing app tumbled in its highly anticipated trading debut on Thursday, closing 8.4% below its initial public offering price. Robinhood stock opened at $38, matching the IPO price, and quickly fell more than 10%. The stock later climbed to approach the IPO price before falling again in the final hour of trading to close at $34.82.