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Robinhood Markets Inc, the owner of the trading app which emerged as the go-to destination for retail investors speculating on this year s meme stock trading frenzy, raised $2.1 billion in its initial public offering on Wednesday. The company was seeking to capitalize on individual investors fascination with cryptocurrencies and stocks such as GameStop Corp, which have seen wild swings after becoming the subject of trading speculation on social media sites such as Reddit. Robinhood s monthly active users surged from 11.7 million at the end of December to 21.3 million as of the end of June. The IPO valued Robinhood at $31.8 billion, making it greater as a function of its revenue than many of its traditional rivals such as Charles Schwab Corp, but the offering priced at the bottom of the company s indicated range.

Baiju bhattGamestop corpRobinhood markets incGoldman sachsFinancial industry regulatory authorityCharles schwab corpEntertainment holdings incExchange commissionStanford universityWall streetVlad tenevபைஜு பட்கேம்ஸ்டாப் கார்ப்ராபின் ஹூட் சந்தைகள் இன்க்கோல்ட்மேன் சாக்ஸ்நிதி தொழில் ஒழுங்குமுறை அதிகாரம்