Robinhood expects to be listed on the #Nasdaq stock market with the code " #HOOD".
Popular cryptocurrency trading platform #Robinhood has submitted an S-1 draft registration statement to the U.S. Securities and Exchange Commission for its #IPO. Robinhood is waiting to be listed on the Nasdaq stock market with the code "HOOD".
✅Robinhood Prepares for IPO
Giant trading platform Robinhood is preparing to go public. Robinhood, which has submitted its registration statements for the IPO to the Securities and Exchange Commission, will be listed on the Nasdaq with the code “HOOD”. In addition, the company plans to raise $100 million during the IPO.
✅The Menlo Park-based giant platform announced a quarterly loss of $1.4 billion due to investments in customer acquisition. Leveraging the meme token craze, Robinhood reports that the total number of registrations on its platform has risen to 18 million.
✅Robinhood reported that 17 percent of transactional revenue came from cryptocurrencies in the first quarter of 2021. The popular cryptocurrency Dogecoin reportedly represents a significant portion of the company's crypto-related revenue. Robinhood officials attributed a significant portion of the recent increase in net revenues from cryptocurrency transactions to Dogecoin transactions. According to Robinhood officials, if interest in Dogecoin transactions declines, the company's financial situation may deteriorate and its operating condition may suffer. Robinhood had $11.6 billion in crypto assets as of March 31, 2021. This attracted attention as a 2.225% increase compared to the $480 million he had under management last year.
📈Dogecoin Price
The fact that Dogecoin constitutes the majority of the transactions on the Robinhood exchange makes the popular crypto money the most talked about altcoin of recent days. Interest in Dogecoin was rekindled today with Elon Musk's tweet. The billionaire, who left Dogecoin alone for a while, tweeted about Dogecoin and a similar cryptocurrency, Baby Doge Coin, in the morning at TSI. Dogecoin is trading at $0.24 as of the writing of this article.