- July 2, 2021
- Posted by: Stratford Team
- Category: Business
Sources tell FOX Business’ Charlie Gasparino that Robinhood’s coveted S-1 filing expected to be released within the coming weeks.
One day after paying a $70 million fine to FINRA, the largest in its history, Robinhood has officially filed for its initial public offering with the Securities and Exchange Commission.
“Our mission is to democratize finance for all. Robinhood was founded on the belief that everyone should be welcome to participate in our financial system,” reads the lead of the prospectus. “We are creating a modern financial services platform for everyone, regardless of their wealth, income or background.”
The S-1 details some eye-popping numbers including:
- $81 billion in assets
- 17.7 million monthly active users
- 50% are first-time investors
- Nasdaq ticker: HOOD
As a public company, Robinhood will compete for investors with more established players including Charles Schwab and its TD Ameritrade arm as well as Morgan Stanley’s E-Trade and…
