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Robinhood's Planned IPO Faces Delays From SEC Over Crypto Business: Report
The goal now is to list next month ahead of the July 4 holiday weekend.
Updated Sep 14, 2021, 1:16 p.m. Published Jun 25, 2021, 1:29 a.m.
Robinhood Markets LLC's planned initial public offering (IPO) is reportedly facing delays in its bid to go public because of its growing cryptocurrency business.
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- A report by Bloomberg on Thursday cites several people close to the matter who say the U.S. Securities and Exchange Commission have slowed plans for the stock trading app maker's IPO.
- Robinhood had been aiming for a June listing after initially filing in March. The goal now is to list next month ahead of the July 4 holiday weekend.
- Yet, the timing could once again fall short and may slip into the autumn, according to the report, which cited a source wishing to remain anonymous because the matter was private.
- Robinhood has faced scrutiny from regulators this year who allege the site encourages the game-like nature of trading, especially when it comes to inexperienced retail traders.
See also: Robinhood to Reveal IPO Filings as Early as Next Week: Report
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