Robinhood Markets to Select Nasdaq for Its IPO

Robinhood Markets Inc., the popular trading app, plans to list its shares on Nasdaq when it goes public this year, according to people familiar with the matter.

No final decision has been made and Robinhood’s listing plans could change, said the people, who asked to not be identified because the matter isn’t public. CNBC first reported the Nasdaq news on Friday.

A representative for Robinhood didn’t immediately respond to a request for comment. A representative for Nasdaq declined to comment.

Robinhood plans to confidentially file for an initial public offering with the U.S. Securities and Exchange Commission as soon as this month, people familiar with the matter said last week.

Robinhood became immensely popular during the pandemic, as homebound young people turned to online trading to pass the time and make money. But its role at the center of the so-called meme-stock frenzy has drawn questions from politicians and regulators. It’s also had to raise money from its backers to comply with a request from the industry’s clearinghouse.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.