Robinhood opens access to US IPOs for UK retail investors
Robinhood’s UK customers can request shares in eligible US initial public offerings at the offer price before the stocks begin trading.
Robinhood has introduced a service enabling UK retail investors to request shares in eligible US initial public offerings (IPOs) at the offer price, before the stocks commence trading. This new feature allows customers with existing investment accounts to review offering documents within the app and request shares without paying trading commissions.
Since its launch in the US in 2021, Robinhood has participated in over 50 IPOs. However, the company has not disclosed which specific upcoming US IPOs will be accessible to UK investors. The announcement comes following Robinhood's third-quarter earnings report in October, where the company reported a record revenue of $1.42 billion and a net income of $476 million.
As of Friday, Robinhood shares (HOOD) were trading at $80.91, marking a 3.2% gain, according to Yahoo Finance. The stock opened at $79.50 in premarket trading on Monday.
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