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Jul 2, 2021

Robinhood files for IPO, first-quarter revenue more than quadrupled year-over-year to $522M.
The company shared that it will set aside up to 35% of shares for their customers, most are retail investors who rarely get to buy at a company's IPO price. They ended the quarter with 18M funded accounts (almost all are active monthly), more than doubling from last year. Their profits were $7.5M on $959M in revenue for the entire year of 2020, up from 2019 where they lost $106M on $277M of revenue (the pandemic was good for them). The company also reported a loss of $1.4B related to emergency fundraising (around the GameStop story in January). Their expected ticker on Nasdaq is HOOD. Link
Photo credit: Marco Verch / Flickr

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