Robinhood Prices IPO at Bottom of Marketed Range
- Trading app has diluted value in listing of about $33 billion
- Pricing spooked at least one other IPO that pulled its listing
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Robinhood Markets Inc. will start trading later on Thursday after pricing its initial public offering at the low end of its range, in what was a muted start for one of the year’s most highly anticipated listings.
The price indicates investors weren’t clamoring to buy Robinhood’s stock the way they had with some of the year’s hottest offerings. Still, a weaker price in the IPO could allow more room for the “first-day pop” craved by investors when the stock opens.