Robinhood Markets Inc., the trading platform behind the boom-and-bust swing in GameStop Corp.’s shares, plans to file confidentially for an initial public offering as soon as March, according to people familiar with the matter. A representative for Robinhood, based in Menlo Park, California, declined to comment. Robinhood exploded in popularity during the pandemic as homebound young people turned to its trading app to make money and pass the time. The company, which has been targeting a 2021 IPO since at least last year, faced a cash crunch when it ran into regulatory trouble three weeks ago. That company has been considering selling some of its shares in its IPO directly to its own users, Bloomberg News reported.

Source: Mint February 27, 2021 03:12 UTC