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Robinhood Debuts at $38 Per Share, Valuation of $32 Billion Robinhood will use the ticker HOOD and the IPO is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co.

By Entrepreneur Staff

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Robinhood Markets Inc. is set to begin trading as a public company with an initial price of $38 on Thursday. Robinhood will use the ticker HOOD and the IPO is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co.

The investing app company is valued at $31.8 billion and the initial price is on the low end of what was expected. The offering is expected to raise over $2 billion, which will raise Robinhood's valuation. Robinhood estimates revenue in Q2 between $546 million and $574 million with a net loss between $487 million and $537 million.

Robinhood announced it priced 55 million shares at the initial price. Just over 52 million of those are from Robinhood while the remaining 2.6 million are being offered by existing stockholders.

Related: Robinhood Reveals Investigation Ahead of IPO Debut

There are almost 18 million monthly active users on Robinhood, managing more than $80 billion in assets. The company estimated a total of 21.3 million monthly active users for Q2.

The news comes just after Robinhood announced on Tuesday that regulators are looking into its CEO, Vlad Tenev, for not being licensed by the Financial Industry Regulatory Authority, Wall Street's self-regulator.

Entrepreneur Staff

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