Stock trading program company Robinhood says it’s filed a confidential plan to go public later this season
CHARLOTTE, N.C. — Stock trading program company Robinhood stated Tuesday it has filed a private plan to go public later this season.
Robinhood needed to limit trading of these businesses earlier in the year, also continues to be subject to congressional investigations.
Robinhood didn’t disclose the size of its initial public offering, or in which it intends to trade its inventory.
Robinhood discovered success — and important criticism — because of its organization model making stock trading simpler for retail investors. The organization’s program makes it possible for investors to purchase fractions of a share in a business, also turns stock trading to nearly a match.
It is this simplicity of usage that acquired the company to hot water earlier this season, when action jumped onto its own program as online retail investors began buying up stocks of beaten-down businesses to gamble against Wall Street’s short sellers, who are investors attempting to earn money gambling a stock will return.
Robinhood had to find emergency financing from venture capitalists so as to satisfy its regulatory demands and needed to limit trading in these stocks.