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Robinhood is preparing to reveal filings for its initial public offering as soon as next week, Bloomberg reported Tuesday.
The company — best known for its trading platform, which was at the center of this year's GameStop trading frenzy — is aiming to make its public trading debut in late June, according to Bloomberg. The filing will give potential investors their first comprehensive look at the company's financials, as well as risks associated with its stock.
Robinhood in March submitted confidential documents to the US Securities and Exchange Commission, a move that allows the regulator to weigh in on any changes that are needed before they are made widely available.
The app was thrust into the mainstream spotlight in January after retail investors active on the Reddit social media site pushed up GameStop's share price to force a short-squeeze on hedge funds that were positioned to profit when the share price fell.
Robinhood has said the app had more than 13 million users at the end of 2020.
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- Warren Buffett slammed Robinhood, touted tech stocks, and questioned his own holdings at Berkshire Hathaway's annual meeting. 6 experts explain why.
