What simply occurred? The American monetary providers firm, greatest identified for providing commission-free trades of shares and exchange-traded funds, has filed the mandatory paperwork with the US Securities and Alternate Fee to checklist Class A typical shares on the Nasdaq underneath the ticker image “HOOD.”
Robinhood hasn’t but mentioned what number of shares might be provided, nor has it confirmed the worth vary for the providing.
Within the SEC submitting, Robinhood mentioned it plans to put aside between 20 p.c and 35 p.c of its shares on the market to Robinhood clients on its platform.
Robinhood in its SEC submitting revealed that it had 18 million retail shoppers (or funded accounts) as of March 31, up from simply 12.5 million on the finish of final 12 months. Collectively, it’s holding almost $81 billion in buyer belongings.
Robinhood has been within the information rather a lot this 12 months, though not all the time in a optimistic mild. Simply yesterday, Robinhood was ordered by the Monetary Business Regulatory Authority (FINRA) to pay roughly $70 million in penalties for “systemic supervisory failures” and inflicting hurt to hundreds of thousands of shoppers. It’s the most important monetary penalty ever ordered by FINRA.
The corporate got here underneath hearth over its function within the GameStop buying and selling frenzy earlier this 12 months and has been coping with the fallout ever since. Within the SEC submitting, the corporate mentioned its CEO’s mobile phone had even been seized by the US Lawyer’s Workplace as a part of its investigation into the matter.
Picture credit score dennizn, zhu difeng
Source link
