Скачать или смотреть Robinhood sees IPO price at $38 to $42 per class A share

CNBC's Leslie Picker reports on Robinhood's IPO details, including its amended S-1 and IPO pricing. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Robinhood is seeking a market valuation of as much as $35 billion in its upcoming initial public offering, according to an amended SEC filing released Monday.

The stock trading app will attempt to sell its share at a range of $38 to $42 per share, according to the updated prospectus. Robinhood is looking to sell 55 million shares at that range to raise as much as $2.3 billion.

Robinhood’s last private market valuation was $11.7 billion as of September.

Goldman Sachs, Citigroup and JPMorgan are the lead underwriters on the deal.

Robinhood — which plans to trade on the Nasdaq under the symbol HOOD — also updated several of its financial and user metrics in the filing. The company estimates it has 22.5 million funded accounts — those tied to a bank account — as of the second quarter, up from 18 million in the first quarter of 2021.

The Menlo Park, California-based free-trading pioneer estimates second quarter 2021 revenue between $546 million and $574 million. This would be an 129% increase from the $244 million in the second quarter of 2020. The company generated $522 million in revenue in the first quarter of 2021.

However, Robinhood estimates a net income loss of $537 million to $487 million in the second quarter of 2021, compared with a profitable second quarter in 2020.

Robinhood’, whose longstanding mission is to “democratize” investing, is seen as the main gateway to the markets for young investors. The app experienced record levels of new, younger traders entering the stock market during the pandemic and during the GameStop trading mania.

Competitors of Robinhood include Fidelity, Charles Schwab, Interactive Brokers and start-ups like Webull and Sofi. Charles Schwab has a market capitalization of $130 billion and Interactive Brokers has a market valuation of $26 billion.

Robinhood — which offers equity, cryptocurrency and options trading, as well as cash management accounts — is expected to make its public debut by the end of next week.

Robinhood is a five-time CNBC Disruptor 50 company that topped this year’s list.

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n...

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook:
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

https://www.cnbc.com/select/best-cred...

#CNBC
#CNBCTV