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Robinhood's IPO File Reveals Post-Profit 2020 Loss Financial Markets News


Robinhood Markets Inc. requested an initial public offering, and reported that it became profitable last year with losses in the first quarter, on one of the most important listings for the next year.
The company, targeting its trading platform for novice investors, has listed the size of the $ 100 million offering as a placeholder that will change when it sets conditions for the sale of shares. Thursday’s registration notice was submitted to Robinhood in March after the announcement was made confidential to the public.
Robinhood said it generated a net income of $ 7.45 million in 2020 as a result of a net income of $ 95.45 million, compared to a loss of $ 107 million in the previous year. ....

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Robinhood IPO Reveals Surging Loss This Year After 2020 Profit


Robinhood IPO Reveals Surging Loss This Year After 2020 Profit
Robinhood s public filing comes one day after it was a fined a record $70 million by FINRA.
Katie Roof, Crystal Tse and Annie Massa | Jul 01, 2021
(Bloomberg) Robinhood Markets Inc. filed for an initial public offering, disclosing it became profitable last year only to have its losses jump in the first quarter, in one of the most high-profile upcoming listings of the year.
The company, which pitches its trading platform to novice investors, listed the size of the offering as $100 million, a placeholder that will change when it sets terms for the share sale. Thursday’s registration statement follows Robinhood’s announcement in March that it had filed confidentially to go public. ....

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