From CNET: Robinhood Markets, the company behind the wildly popular investing app, on Wednesday priced its initial public offering at $38 a share, at the bottom of its expected range. The IPO -- one of the most anticipated stock market listings of the year -- values the company at about $32 billion.
Robinhood sold 55 million shares at low end of its expected $38 to $42 range. The company also made the unusual move of selling some of its IPO shares to users of its app.
It will make its trading debut Thursday on the Nasdaq stock exchange under the symbol HOOD.
The app allows users to make commission-free trades on stocks, options and cryptocurrencies, making it especially popular among young people. But the IPO comes as scrutiny over the app continues.
The app was at was at the center of the GameStop saga that captivated financial markets in early February as shares of the video game retailer, cinema chain AMC and BlackBerry surged wildly and crashed, attracting the attention of Congress.
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