Investment app Robinhood is going public on the Nasdaq today, under ticker symbol HOOD in an eagerly anticipated IPO.
With an approximate valuation of $32 billion, the company is offering its shares at $38 apiece.
Here is how you can buy shares
Those interested to buy shares through the Moneybase Invest platform can do so by downloading the app through the App Store or Google Play or by accessing https://live.cctrader.com/.
The stock can be found under the ticker symbol HOOD.
Please note that orders can only be placed as Limit Orders until regular trading commences after the opening auction. You can purchase whole shares when the market opens and fractional shares will be available later on during the day. You can purchase whole shares when the market opens and fractional shares will be available later on during the day.
We remain at your disposal for further assistance. You may get in touch with us on +356 25 688 688 or via live chat through the Moneybase Invest app.
About Robinhood
Robinhood was founded in April 2013 by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for financial institutions in New York City. With the mission to provide everyone access to the financial markets irrespective of wealth, the broker has become a central gateway to the markets for young and first-time investors. The app, which offers equity, cryptocurrency and options trading, as well as cash management accounts, experienced record trading levels during the pandemic and amid the meme stock craze of early 2021.
Robinhood estimates it has 22.5 million funded accounts as of the second quarter, up from 18 million in the first quarter of 2021, which also saw an increase of 151% from a year earlier. Meanwhile, second quarter revenue is estimated at between $546 million to $574 million, up from $244 million in the second quarter of 2020. Revenue jumped 309% in the first quarter to $522 million from $128 million a year prior.
The company was last valued in the private markets at $11.7 billion in September, while competitors include Fidelity, Charles Schwab, Interactive Brokers and newer services like Webull and SoFi.
In an unusual move, Robinhood has reserved between 20% and 35% of its IPO shares for retail investors who are users of its app. Buying shares of a company before it debuts is typically reserved for big institutional investors and hedge funds with deep pockets, however, the company has said that by encouraging its own investors to get involved, it is opening finance even further to the everyday trader.
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