Robinhood is scheduled to start trading in the public market under the ticker HOOD on Thursday in one of the most highly anticipated initial public offerings of the year.
Robinhood is offering its initial public offering at $38 a share. With an initial price of $38 a share, giving the company a valuation of $31.8 billion, The Wall Street Journal reported. This is at the lower end of the $38 to $42 range the company expected.
On July 1, Robinhood Markets, Inc. publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common stock.
Robinhood is the third-largest brokerage based on a number of funded accounts, behind Fidelity and Charles Schwab, which purchased TD Ameritrade last year.
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