Trading in RobinHood shares begins on the NASDAQ Stock Exchange
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| Robinhood |
At long last, Markets Robinhood, the owner of the smart-trading app on the US Stock Exchange that has emerged as a preferred destination for retail investors, raised as much as $2.1 billion in its initial public offering.
The company gained great fame during the Corona pandemic with the high demand for Meme shares, perhaps the most prominent of which is GameStop stock
Robinhood's monthly active users rose from 11.7 million at the end of December to 21.3 million at the end of June.
Robinhood IPO on the US Stock Exchange
Robinhood's IPO was estimated at $31.8 billion, making it the largest "trading company" in revenue compared to many traditional competitors such as Charles Schwab.
Robinhood said it sold 55 million shares in the IPO at $38 a share, the lower end of the $38-$42 price range.
This makes it one of the most valuable American companies that have gone public since the beginning of the year.
Robinhood was founded in 2013 and the company's stock trades on the Nasdaq on Thursday, July 29, 2021, under the symbol "HOOD".
The company’s decision to list has not changed despite summoning the CEO during the past months to comply with a supervisory committee after heavy losses for hedge funds during 2021.
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