Finextra, March 24, 2021, Robinhood files for IPO
Controversial stock trading app Robinhood has filed paperwork with the Securities and Exchange Commission for an initial public offering.
The company has been at the centre of a battle between activist retail investors and hedge funds shorting stock in companies such as GameStop and AMC Entertainment.
Robinhood temporarily stopped users from buying dozens of stocks that day traders who use the WallStreetBets subreddit had targeted in a short squeeze assault.
This led to probes by regulatory authorities and the filing of around 46 putative class actions and three individual lawsuits.
