Robinhood reports explosive growth, stock will trade as HOOD

Robinhood, the trading app that’s sent a newly empowered and market-shaking generation of investors to Wall Street, saw its revenue soar 309% at the start of the year and wants its stock to trade under the symbol “HOOD.”

NEW YORK -- Robinhood, the trading app that’s sent a newly empowered generation of investors to Wall Street, saw its revenue soar 309% at the start of the year as a frenzy over so-called meme stocks shook the market. The company revealed the revenue surge in a filing with the Securities and Exchange Commission Thursday, as it prepares to sell its own stock on the Nasdaq for the first time. It plans to trade under the symbol HOOD. Robinhood’s initial public offering is set to be one of the most anticipated of the year, giving investors a chance to own part of a fast-growing company that has rocked the traditionally staid brokerage business. Since its launch in 2014, Robinhood’s popularity has forced rivals to get rid of commissions and to offer apps that make trading easy and maybe even fun. But as it’s drawn in 18 million funded accounts, with more than half its customers first-time investors, the company has also faced a mountain of criticism from regulators and users alike. Robinhood has agreed to pay more than $130 million in recent years to settle accusations by regulators, with the most recent fine announced just a day earlier.