📈Robinhood IPO at XTB❗

Opening price in line with IPO level

• Robinhood Markets (HOOD.US) shares available at XTB
• One of the largest public offerings (IPO) this year

The IPO of Robinhood Markets' (HOOD.US) shares was set at $ 38, which meant a company-wide valuation of $ 32 billion. At the IPO price, Robinhood's valuation of $ 32 billion is one of the highest IPO valuations this year. Investors acquired 55 million shares, of which 52.37 million were newly issued shares, and 2.62 million were shares sold by existing shareholders.

The company was founded only 8 years ago, but it achieved spectacular success thanks to acquiring millions of customers at a record pace. This success is due to the commission-free offer of trading on the stock exchange. Looking at 2016-21, half of the new brokerage accounts in the US were opened through the Robinhood app. At the end of the second quarter of this year. the company had approximately 22.5 million customers, 4.5 million more than in the first quarter.

Some investors wonder if the valuation is too exaggerated. You can read more about Robinhood and its financial data in tomorrow's “Stock of the week” article.

Investors are also able to  invest in Robinhood Markets (HOOD.US) via CFDs.