Robinhood May Be Offered To The Public
The trading platform Robinhood, recognized by the GameStop craze may be offered to the public. The IPO of the trading platform Robinhood is under consideration.
Robinhood, the trading platform that came to the fore with the GameStop incident that shook Wall Street with its rapid rise in recent weeks, is currently in preparation for its public offering.
According to the news in Bloomberg, Robinhood is preparing to apply for an IPO together with the beginning of March. The company held talks with brokerage houses last week for the public offering application to be made in the upcoming period. On the other hand, sources speaking to Bloomberg on the subject stated that the company did not make a final decision on this issue and that there may be some changes in the public offering date.
Last year, the valuation of the company was recorded as 11.7 billion dollars after the financing tours.
Robinhood Was On The Agenda With The GameStop Incident
Robinhood had occupied the agenda with the sudden rise of GameStop shares in the US markets. The rapid rise in stocks made manipulation complaints unavoidable, and Robinhood CEO Vlad Tenev testified at the US House of Representatives Financial Services Committee.
Stating that Robinhood does not impose transaction limits to help hedge funds, Tenev claimed that they imposed a transaction restriction on some shares to meet their increased regulatory deposit requirements.
Tenev used the following statements:
“What happened at the end of the day in January, despite unprecedented market conditions, is unacceptable to us. I am sorry an I apologize. Know that we are doing everything we can to make sure this doesn’t happen again.”
Source: Bloomberg HT