In March, Internet broker Robinhood announced plans to go public after filing with the US Securities Commission. The company was going to go public at the end of June. The broker is now planning an IPO after July 4, Bloomberg reported.
The publication suggests that the leaders of Robinhood will wait for the return of potential investors, who usually leave for holidays on the occasion of Independence Day. At the same time, the updated date of listing on the exchange is not final, the broker may change plans.
In March it was not known exactly how many shares would be issued and what their price would be. According to sources, the broker chose the NASDAQ exchange as a trading platform. Reuters reports that Goldman Sachs is preparing the company for listing.
Experts suggest that the broker made the decision to enter the stock exchange after a sharp increase in the number of clients. Investors’ attention to the company was attracted by the events of the winter of 2021, associated with the “acceleration” of quotations of “meme” shares by shortists. This list includes the acclaimed GameStop, BlackBerry, Nokia and others this year. A sharp jump in quotations for securities of listed companies forced Robinhood to impose restrictions on trading in such shares. After that, some traders filed a lawsuit against the broker for the deprivation of potential profits.