Robinhood remains to be on observe for a sizzling IPO regardless of the GameStop controversy
Avishek Das | LightRocket | Getty Photos
Robinhood is recovering from weeks of buyer backlash, and a public grilling by Congress over the GameStop controversy. Regardless of that, the buying and selling app’s consumer progress, model recognition and valuation seem like stronger than ever.
Demand for Robinhood shares in non-public markets is surging. The beginning-up doubtless benefitted from headlines and mentions by politicians and celebrities. In the meantime, the app gained three million customers final month alone, based on estimates from JMP Securities.
“From a model recognition perspective, who would not know who Robinhood is?” Greg Martin, of Rainmaker Securities, informed CNBC. “Regardless of some constructive and damaging press, everybody on the planet is aware of who Robinhood is. They could not have higher free promoting.”
Robinhood, the app that pioneered zero-commission buying and selling, remains to be seen as the primary gateway for younger traders to entry the markets. It’s anticipated to go public in 2021 amid sturdy demand for fintech shares such…