Robinhood has filed confidentially for a US IPO

• Robinhood confidentially filed for a US initial public offering, $4.
• The company confirmed the report in a $4 on Tuesday evening.
• The trading app, popular among retail investors, has selected Nasdaq as the venue for its listing, according to Bloomberg.
• $4.

Robinhood Markets confidentially filed for an initial public offering with the US Securities and Exchange Commission, $4. The company confirmed the report in a $4.

Robinhood, the trading app popular among retail investors, selected Nasdaq as the venue for its listing, according to Bloomberg. It's also said to be keeping its listing plans open to change. Robinhood has been $4 since $4. The company had more than 13 million users at the end of 2020.

The app's rapid rise to prominence peaked during the $4 in late January as an army of Reddit day traders sparred with hedge funds to push shares of the video-game retailer to dizzying highs.

Robinhood achieved an $11.7 billion valuation in a funding round last year. It also raised financing this year that will convert to equity upon the completion of an IPO, $4. A first tranche will convert at the lower of a $30 billion valuation or a 30% discount to the IPO, with the second at the lower of the 30% IPO discount or a $33 billion valuation, according to Bloomberg.

Robinhood hired Goldman Sachs in December to lead its IPO.

Read more: $4