Robinhood Said to Keep Go-Public Plan, Weighing IPO or SPAC Deal
- Brokerage has been planning for a traditional IPO around May
- Direct listing or SPAC deal also could give backers a windfall
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For months, Robinhood Markets’ plan to pursue an initial public offering midyear looked more and more auspicious. Now, it looks increasingly critical.
As 2021 began, investors stuck at home in sweatpants kept signing up for the firm’s popular no-fee trading app, even plowing U.S. stimulus checks into fresh bets on ever-rising stocks. People close to the brokerage said it was planning to hold an IPO around May. The timing would be fortuitous: before summer and widespread vaccinations let droves of users return to pre-pandemic hobbies.