Members of Congress have their eyes on Robinhood.
Robinhood publicly filed for its IPO earlier this month. In its filing, the company revealed that it was profitable last year, generating net income of .45 million on net revenue of 9 million in 2020. Robinhood also said it has about 22.5 million funded accounts on its platform as of June 30.
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Cut through the chatter
Robinhood plans to trade under the symbol HOOD on the Nasdaq. The company is expected to make its public debut by the end of next week, according to CNBC.
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Popular investing app Robinhood is seeking a market valuation of up to billion in its upcoming initial public offering. In an updated filing with the US Securities and Exchange Commission on Monday, Robinhood said it plans to offer 55 million shares at a range of to . The company could raise as much as .3 billion.