Is US trading app Robinhood too much of a gamble for investors?

App luring newbies into stocks and cryptos valued at up to $40bn ahead of flotation

Rapper Snoop Dog was among the early investors in Robinhood.

Rapper Snoop Dog was among the early investors in Robinhood.

Robinhood Markets, the US trading app that has ridden a craze for “meme” stocks and cryptocurrencies in recent times, is now looking for stock-market investors to take a punt on it, with valuations touted for its upcoming Nasdaq flotation running at up $40 billion.

The app, launched in 2013 by former Stanford University roommates Vlad Tenev and Baiju Bhatt and which brought in the likes of rapper Snoop Dog and actor Jared Leto as early investors, had a simple goal from the outset: to democratise finance.

The Irish Times
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