Robinhood’s IPO filing reveals surging loss after profitable 2020
Al Jazeera
Robinhood’s initial public offering is being led by Goldman Sachs and JPMorgan, and its shares are expected to trade on the Nasdaq stock exchange under the ticker symbol HOOD.
Robinhood Markets Inc. filed for an initial public offering, disclosing it became profitable last year only to have its losses jump in the first quarter, in one of the most high-profile upcoming listings of the year. The company, which pitches its trading platform to novice investors, listed the size of the offering as $100 million, a placeholder that will change when it sets terms for the share sale. Thursday’s registration statement follows Robinhood’s announcement in March that it had filed confidentially to go public. Robinhood said it generated net income of $7.45 million on net revenue of $959 million in 2020, compared with a loss of $107 million on $278 million the previous year, according to the filing.
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