Robinhood Targets $35 Billion IPO


Last year, Robinhood’s revenue soared 245% to $959 million.

Grow Your Business,
Not Your Inbox

Stay informed and join our daily newsletter now!


2 min read

Opinions expressed by Entrepreneur contributors are their own.


The stock trading app announced plans to raise as much as $2.3 billion when it goes public, reports CNN.  According to an amended prospectus, the stock could sell between $38 and $42 per share, giving the company an estimated market value range of $27 to $35 billion. That would make Robinhood more valuable than most of the companies in the S&P 500.  

The IPO comes as the company grapples with several legal and communications hurdles.

Robinhood’s business structure is facing scrutiny by regulators after retail investors trading on the platform caused wild price swings in stocks like GameStop earlier this year.

Related: 4 Reasons To Get Bullish On Oil And Energy Stocks

Robinhood received a record fine last month on charges it misled investors and recently settled with the familly of a trader who committed suicide after misinterpreting what he thought was a large debt in his account.

Critics also contend the company’s payment structure creates conflicts of interest. 

The company is also warning that a slowdown in cryptocurrency trading could impact its third quarter revenues.

Robinhood, whose IPO could come as soon as next week, plans to list on the Nasdaq and trade under the ticker symbol HOOD.

Related: Robinhood Fined a Record $70 Million Over “Serious” Violations



Source link

Get in Touch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Articles

Robinhood Targets $35 Billion IPO

Last year, Robinhood's revenue soared 245% to $959 million. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! July 19, 2021 2 min...

Zakiya Dalila Harris Remembers Protesting George Floyd’s Murder

I wasn’t ready. I would never be ready. Still, I took a deep breath. I loaded the video, and I hit play.How long...

AP Math Classes: How to Compare and Choose | College Admissions Playbook

The College Board offers three Advanced Placement classes in math: AP Calculus AB, AP Calculus BC and AP Statistics. Successful completion of an...

Get in Touch

22,044FansLike
2,507FollowersFollow
18,100SubscribersSubscribe

Latest Posts

Robinhood Targets $35 Billion IPO

Last year, Robinhood's revenue soared 245% to $959 million. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! July 19, 2021 2 min...

Zakiya Dalila Harris Remembers Protesting George Floyd’s Murder

I wasn’t ready. I would never be ready. Still, I took a deep breath. I loaded the video, and I hit play.How long...

AP Math Classes: How to Compare and Choose | College Admissions Playbook

The College Board offers three Advanced Placement classes in math: AP Calculus AB, AP Calculus BC and AP Statistics. Successful completion of an...

Historic gold medal outweighs empty seats

The prospect of winning an Olympic gold medal for Serbia outweighs the disappointment of playing in an empty venue at the Tokyo games,...