Robinhood Early Investors Granted SEC Approval to Sell Shares
This article is for subscribers only.
The Securities and Exchange Commission is allowing certain early investors in Robinhood Markets Inc. to sell a portion of their holdings.
The move applies to some shares held by investors who pumped additional funds into the company to avert a liquidity crunch after the late January surge in meme stocks such as GameStop Corp. The SEC’s approval took effect at 4:30 p.m. Wednesday in New York, in line with a request Robinhood made last week, according to a filing.