Robinhood Prices Its I.P.O. at $38 a Share
The New York Times
The stock trading app is set to start trading as a public company on Thursday.
SAN FRANCISCO — Robinhood is known for its association with “meme stocks.” Now the stock trading app could become one. On Wednesday, Robinhood priced its initial public offering at $38 a share, according to two people with knowledge of the transaction, valuing the company at $31.7 billion. It raised $2.1 billion from the offering, setting the stage for the company to start trading on Thursday under the symbol HOOD. The price was at the low end of Robinhood’s initially disclosed range of $38 to $42, showing middling interest in the stock.
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