Robinhood is now eyeing an IPO in July at a $40 billion valuation, report says

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Robinhood is targeting a stock market debut in July, after its plan to go public this month fell through, . The popular investing-app provider, expected to trade on the Nasdaq index, wants to time its initial public offering for when people return from the US Independence Day holiday break next month, Bloomberg said on Tuesday, citing sources. The decision isn’t final, and Robinhood’s plans are subject to change.

The company confidentially filed for an IPO in March, aiming to . But its prospectus with the securities’ regulator has not yet been made public. It has been contemplating a listing since . Popular among retail investors, Robinhood counted more than users at the end of 2020. It has been credited with helping enable the trading frenzy that sent GameStop stock skyrocketing this year. The trading platform scored an at a funding round late last year. But secondary shares have given the company a valuation of as much as $40 billion, more...