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Robinhood plans confidential IPO filing as soon as March: Bloomberg News

Published 02/26/2021, 10:18 PM
Updated 02/26/2021, 10:20 PM
© Reuters. The Robinhood App is displayed on a screen

(Reuters) - Online brokerage Robinhood, at the centre of this year's retail trading frenzy, is planning to file confidentially for an initial public offering as soon as March, Bloomberg News reported late on Friday, citing sources.

The California-based brokerage has held talks in the past week with underwriters about moving forward with a filing within weeks, Bloomberg said.

Robinhood did not immediately respond to a request for comment.

Reuters reported last year that Robinhood has picked Goldman Sachs Group Inc (NYSE:GS) to lead preparations for an initial public offering which could value it at more than $20 billion.

Robinhood was at the heart of a mania that gripped retail investors in late January following calls on Reddit thread WallStreetBets to trade certain stocks that were being heavily shorted by hedge funds.

© Reuters. The Robinhood App is displayed on a screen

The online brokerage tapped around $3.4 billion in funding after its finances were strained due to the massive trading in shares of companies such as GameStop Corp (NYSE:GME).

Latest comments

Robinhood clearly exhibited they are willing to do anything to protect themselves. So, if the stock market crashes you can be sure your money wont be leaving their accounts.
I wonder if Robinhoods stock will be shorted?
I haven't had an issue thus far in the past 2 years I just buy and hold though for trading IBKR is probably better
Just imagine Robinhood stopped your buying and selling when things are good. Imagine how hard it will be to get your money from them when things go bad.
I wont be hard at all things will be bad for you not for them..
I’m loading up on Puts as soon as they are available.
How can you trust a broker who chooses on their own accord to stop your buying and selling? Anyone using RH is insane.
It risk, Its game....never forget you can loose....be patient and feel your feelings😎
after Robinhood goes public i want everyone who has a Robinhood account to close it and transfer over to TDAmeritrade. Let's stick it to Wall Street underwriters and Vlad.
This broker is 100% on the side of hedge funds. It claims to be free but in reality its feeding all your stats to hedge funds. What tickers your looking at. If you have a big position with a stoploss at blank exit. it will touch it for a fraction of a second so u exit at a loss. this app is decent to get started in stocks but start anywhere else. dont recomend. RH is not a neutral broker it is scary that your broker is feeding statistics to your opponent to take your hard earned money.
Short it and make back the money they took from us
Should change their name to Sheriff of Nottingham after their scandalous market manipulations!
RH trading app/platform is horrible. poor customer service. no tax lot selection. don't even show average cost correctly. don't use
rh is scamer
They need a way to pay for those thousands of lawsuits coming up.
lol
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