Robinhood Has Disappointing Start at Wall Street, HOOD Stock Tanks 8% on Day 1
The HOOD stock remained under pressure as retail investors resolved to profit-booking amid lingering anger of customers and regulators cracking down.
The HOOD stock remained under pressure as retail investors resolved to profit-booking amid lingering anger of customers and regulators cracking down.
The new announcement made by the Robinhood CEO provided no specifics on the crypto wallet launch.
Robinhood is planning to release 55 million shares in the open market as it plans to reserve 20% to 35% of Class A shares for its customers.
Robinhood IPO will offer over 22 million Class A shares, whereby they will be priced at $16-$19 per stock.
Although Robinhood submitted the filing to the SEC for review in March, there were still a lot of unclear decisions.
Robinhood is said to be actively preparing for going public but the company has not yet determined the number of shares to be offered during the IPO.
Following its halt in the trade of the shorted stocks last week, Robinhood has earned a strained public sentiment, which is reportedly going to strain its IPO plans.
Despite that Robinhood had not officially announced the IPO, the sources stated that the trading company would go public before the end of 2021 Q1.
Mobile investment app Robinhood is now looking for a chief financial officer as a part of preparation for an initial public offering (IPO), which could help the startup pitch itself as the cheaper youthful alternative to E*Trade and traditional stock brokers.