Robinhood has reportedly chosen Nasdaq for its IPO


Robinhood has reportedly picked Nasdaq as the venue for its initial public offering (IPO), according to a CNBC report published Friday. 

According to CNBC, sources familiar with the matter say it's still unclear if Robinhood will go with a direct listing or a traditional IPO. In any case, the online brokerage is set to file an S-1 with the Securities and Exchange Commission (SEC). Companies can choose to debut as soon as one to two months after such a filing goes live.

The firm, which offers trading in crypto, options, and stocks, has faced regulatory and legal backlash for suspending trading for several stocks including GameStop and AMC amid unprecedented retail trading activity. 

Still, it continues to witness breakneck growth. For instance, Robinhood recently announced it had added six million new customers to its crypto platform since the beginning of 2021. 

The Block has reached out to Nasdaq and Robinhood and will update this report if we learn more. 

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May 5, 2022, 3:17PM UTC