Bloomberg Intelligence in March estimated that Robinhood could be valued in a range of $13 billion to $40 billion. Robinhood aims to raise more than $2 billion in its public debut. The company is expected to start trading on the Nasdaq Stock Market on July 29, according to people with knowledge of the matter. With plans to raise more than $2.2 billion, Robinhood’s IPO would be the fifth-biggest on a U.S. exchange in 2021. In June, the Financial Industry Regulatory Authority imposed a nearly $70 million fine on Robinhood, a record for the watchdog.

Source: Mint July 19, 2021 13:07 UTC