Robinhood starts trading Thursday. Here’s everything investors need to know

Robinhood starts trading Thursday. Here’s everything investors need to know

Robinhood is scheduled to hit the markets Thursday in one of the most highly anticipated initial public offerings of the year. The stock trading app will trade on the Nasdaq under ticker HOOD, priced at an expected $38 to $42 per share. Robinhood is looking to sell 55 million shares at that range to raise as much as $2.3 billion, and the share sale is expected after the close Wednesday. At the top end of the range, Robinhood would be valued at $35 billion, and the co-founders would each own stakes worth about $2.8 billion. Coinbase, which went public in April, has a fully diluted market capitalization of $65 billion. The apps are among the most popular places for consumers to by cryptocurrencies, which have surged in trading in 2021. Robinhood, whose longstanding mission is to democratize investing, is seen as the main gateway to the markets for young investors. The free-trading pioneer has experienced explosive growth in the past few years amid a boom in retail trading. The company estimates its 18 million retail clients and more than $80 billion in customer assets in the first quarter ballooned to 22.5 million users and more than $100 billion in the