Robinhood has publicly filed its long-awaited IPO documents

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Robinhood has publicly filed its long-awaited IPO documents

Robinhood, the popular retail investing app, publicly to go public on Thursday. The company's S-1 document filed with the Securities and Exchange Commission revealed plans to be listed on the Nasdaq stock market under the ticker symbol HOOD. The Silicon Valley-based company was founded in 2013 by Vlad Tenev and Baiju Bhatt, and took the investing world by storm by enabling users to trade stocks and ETFs for free on its mobile app. During 2020, its popularity rose to new heights as amateur investing surged amid the coronavirus pandemic. Robinhood makes money through a practice known as "payment for order flow," in which retail brokers route trade requests to other firms to execute in exchange for a commission. Goldman Sachs and JPMorgan are leading the offering.

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