Categories: Finance

Robinhood IPO: Company proposes to list ‘HOOD’ on Nasdaq stock market – Check details

As of now, the IPO Access on Robinhood is only available for certain users who are selected on a random basis.

The much-anticipated Robinhood app may hit the market anytime soon. Robinhood Markets has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering (IPO) of its Class A common stock.

As per the statement, proposed listing of Robinhood shares will be on the Nasdaq Stock Market under the ticker symbol “HOOD.” The Robinhood IPO may turn into a high-profile listing in 2021 but the actual response is yet to be seen. The date and valuation of Robinhood IPO are also awaited.

Online brokerage Robinhood has recently allowed users of its trading app to apply for IPOs. The access to IPOs will allow users to buy shares of companies at their offering price, with no account minimums required. As of now, the IPO Access on Robinhood is only available for certain users who are selected on a random basis.

What this means is that selected users of IPO Access can apply for Robinhood IPO shares from the Robinhood app itself, making Robinhood a good app for investors

Robinhood financials as per the S-1 filings:

For the year ended December 31, 2020, as compared to the year ended December 31, 2019:

  • Total revenue grew 245% to $959 million, up from $278 million;
  • Recorded net income of $7 million, compared to a net loss of $107 million; and
  • Adjusted EBITDA was $155 million, compared to negative $74 million.

In addition, for the three months ended March 31, 2021, as compared to the three months ended March 31, 2020:

  • Total revenue grew 309% to $522 million, up from $128 million;
  • Recorded net loss of $1.4 billion, which included a $1.5 billion fair value adjustment to our convertible notes and warrant liability, compared to a net loss of $53 million; and
  • Adjusted EBITDA was $115 million, compared to negative $47 million.

With Robinhood, people can invest in stocks and ETFs with no account minimums, buy and sell crypto, and learn about investing through easy-to-understand educational content. Robinhood’S cryptocurrency trading platform offers commission-free buying and selling of cryptocurrency.

From February 21, 2018, the day before Robinhood introduced cryptocurrency trading on their platform, to March 31, 2021, the total cryptocurrency market capitalization has grown from approximately $450 billion to approximately $1.9 trillion, driven by the increased adoption of cryptocurrency trading by both retail and institutional investors, as well as continued growth of various non-investing use cases for crypto-assets.

In addition, the worldwide daily average market volume of Bitcoin, which was the most traded cryptocurrency on Robinhood platform by notional value for the year ended December 31, 2020 and for the three months ended March 31, 2021, was over $54 billion in March 2021, as compared to approximately $8 billion in February 2018.

Goldman Sachs and J.P. Morgan are acting as joint lead book-running managers for the proposed offering. Barclays, Citigroup and Wells Fargo Securities are acting as active book-running managers for the proposed offering. The offering will be made only by means of a prospectus.

Looking to invest in US Stocks? Open a free account with Stockal – India’s first borderless investment platform.

Businesstimenow

Share
Published by
Businesstimenow

Recent Posts

Benefits of Choosing an Instant Online Loan to Meet a Financial Requirement

Life is full of surprises, and financial needs can crop up when least expected. Whether…

11 hours ago

What is Alix Earle net worth? Income & Other details

Alix Earle is a young influencer and social media celebrity who is widely popular on…

1 day ago

Discover the versatility of trailing plants

Trailing plants are well-loved by gardeners and plant lovers because of their growth patterns and…

1 week ago

Is Max Baer Jr. of age 103! Is he the oldest celebrity?

Is Max Baer of age 103 and is one of the oldest celebrities alive? To…

2 weeks ago

Treating Postpartum Mood Changes by Means of Online Psychiatry

Giving birth has always been considered to be a miracle. However, it is also a…

4 weeks ago

Social Media Sensation Brooke Monk- Family, Relationship, Career and Net Worth!!

She is an American dancer, social media personality and Tiktok star. Brooke Monk is recognised…

1 month ago