Robinhood Markets Inc is considering launching U.S. retirement accounts, CEO and co-founder Vlad Tenev said on Saturday in a webcast with users of its trading app looking to participate in its initial public offering, which is set to price next week. Offering individual retirement accounts (IRAs) and Roth IRAs, which offer tax advantages to those saving for retirement, would allow Robinhood to tap a vast market. We want to make first-time investors into long-term investors," Tenev said in response to an investor question. Tenev said in Saturday's webcast that Robinhood had invested in the stability of its platform to avoid another such incident. Robinhood customer Minjie Xu, who works as a software engineer in Missouri, remained unimpressed after the presentation on concerns the offering was overpriced.

Source: Mint July 24, 2021 22:52 UTC