Thursday, July 29

IPO

IPO, ipo 2021, Markets, MI Exclusive, Robinhood, Robinhood app, Robinhood IPO, Robinhood stock, Robinhood stock price, stock market, stock market 2021, Stocks, Trading

Robinhood prices IPO at $38 per share, valuing the online brokerage app at $32 billion

SOPA Images/Getty Images Robinhood priced its IPO at $38 per share on Wednesday, valuing the company at about $32 billion.The online brokerage app revealed surging growth in its S-1 filing amid the COVID-19 pandemic and government stimulus checks.Robinhood is set to trade on the Nasdaq under the symbol "HOOD" on Thursday.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Robinhood priced its IPO at $38 on Wednesday, valuing the online brokerage app popular with retail investors at roughly $32 billion. The Wall Street Journal first reported the pricing.Robinhood's IPO pricing came it at the bottom end of the price range it had initially been targeting during its roadshow of $38 to $42 per share. Robinhood last raised $3.4 billion earlier this year, with share...
crypto, crypto trading, IPO, Markets, Robinhood, Tech Insider, trading app, weekend BI US

Robinhood CEO says the company is all-in on crypto and that users can expect new crypto features at’some point’

Robinhood CEO Vlad Tenev says the company is focused on expanding its crypto offerings. He said users can expect a crypto wallet at "some point." It's a glimpse at the company's future ahead of it's highly anticipated IPO. LoadingSomething is loading. Robinhood CEO Vlad Tenev announced Saturday that crypto is a lynchpin of the retail investme...
Finance, Fintech, IPO, Markets, retail traders, Robinhood app, Tech Insider, Trading, weekend BI US

Robinhood promises to fix’the issues’ that outraged customers when it restricted trading in meme stocks

Robinhood CEO Vlad Tenev acknowledged the company angered many customers after it blocked them from trading GameStop and other red-hot stocks. On Saturday, Tenev promised to learn from past mistakes and "ensure they never happen again." Saturday's roadshow event comes just days ahead of the commission-free trading app's hotly anticipated IPO. LoadingSomething is loading. ...
China, Cybersecurity, Didi, full truck alliance, IPO, Markets, MI Exclusive

Didi has fallen a stunning 52% since its US IPO as China’s crackdown pummels the ride-hail giant

FILE PHOTO: The logo of Didi Chuxing is seen at a Didi station in Beijing Reuters Didi is vying for China's worst US IPO this year as its stock has lost more than half its value. Not long ago, Didi was eyeing a $70 billion. Less than a month from its debut, it is now worth less than $40 billion. Didi has been spared the title of worst IPO this year by RLX Technology, a vaping company that has fallen 78%. See more stories on Insider's business page. Didi is vying for China's worst US IPO this year as the besieged ride hailing company's stock has lost more than half its value.Compared to the market open price on the day of its IPO, Didi has crashed as much as 52.1% on Friday. The company's IPO listing price was $14, but the stock opened at $16.65 on its first day of trading. It no...
IPO, Markets, MI Exclusive, Robinhood, Robinhood IPO, Robinhood stock, Robinhood stock price, stock market, stock market 2021, Stocks, Vlad Tenev

Robinhood co-founders each stand to gain $1.4 billion in equity awards if stock price hits $101.50 by 2025

Robinhood co-founders and co-chief executives Baiju Bhatt and Vladimir Tenev Thomson Reuters Robinhood co-founders Vlad Tenev and Baiju Bhatt stand to receive $1.4 billion in equity awards if it hits a big milestone.Both co-founders will receive 13.8 million shares of Robinhood if the stock price hits $101.50 by 2025, according to the company's S-1 filing.The popular trading app is expected to go public later this year and is seeking a $40 billion valuation.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Robinhood co-founders Vlad Tenev and Baiju Bhatt stand to receive up to $1.4 billion worth of Robinhood stock if they hit certain stock performance targets once it goes public, according to its S-1 filing made with the SEC last month.Both co-founders will...
Amazon, eCommerce, IPO, Retail, Tech Insider, warehouse

An Amazon warehouse’s IPO plans show how loyalty to the e-commerce giant can breed success for its contractors

ROX Financial wants to buy a Bay Area Amazon warehouse and take it public. It wants to buy up more facilities in the future to also lease to the e-commerce giant. The move shows how contractors can piggyback off of Amazon's success — only if they're loyal to the firm. LoadingSomething is loading. ...
Berkshire Hathaway, Byron Trott, Goldman Sachs, Grills, IPO, m&a, Markets, MI Exclusive, Warren Buffett, Weber

Warren Buffett’s favorite banker has filed to take Weber public-and the grill maker could secure a billion-dollar valuation

Warren Buffett. AP Images Warren Buffett's longtime banker plans to take Weber public, SEC filings show. Byron Trott's BDT has been the grilling company's majority shareholder since 2010. Buffett has lauded Trott's dealmaking skills, expertise, and trustworthiness. See more stories on Insider's business page. Warren Buffett's favorite banker has filed to take Weber public, paving the way for the grilling specialist to deliver a billion-dollar IPO.BDT Capital Partners, helmed by founder and CEO Byron Trott, has been Weber's majority shareholder since 2010 and has agreed to sponsor its IPO. Weber boasts a global installed base of 50 million grills, and commands a 24% share of the global market, according to its draft IPO filing.Notably, Weber has enjoyed some benefits from the COVI...
BI Commentary, China, Chinese Communist Party, columnist, Didi, Economy, Finance, Hong Kong, IPO, Markets, Military & Defense, New York Stock Exchange, Opinión, Politics, stock market, Tech Insider, US-China rivalry, Xi Jinping

China’s’wolf warrior diplomacy’ has come to Wall Street

China's assertive, nationalistic behavior — known as "wolf warrior diplomacy" — has come to the financial markets. This week Beijing punished a Chinese tech company that listed on the New York Stock exchange, and announced rules to govern all Chinese companies listed abroad. Consider this part of the Chinese Communist Party tightening its grip on power at home, and closing its doors power from abroad. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. It was only a matter of time before Beijing's heightened nationalism came to Wall Street.T...
IPO, Robinhood, Suicide, Tech Insider

Robinhood has settled a lawsuit over the death of a 20-year-old who died by suicide last year thinking he lost $730,000 on the stock-trading app

Robinhood has settled a wrongful death lawsuit over the suicide of a 20-year-old trader last June. Alex Kearns killed himself after thinking he lost $730,000 on the stock-trading app.  Robinhood disclosed the settlement in its S-1 filing on Thursday. Terms were not disclosed. LoadingSomething is loading. ...
Didi, Didi IPO, Didi stock, IPO, ipo 2021, Markets, MI Exclusive, Ride hailing apps, stock market, stock market 2021, Trading

Didi soars 28% in the largest IPO debut for a Chinese firm since Alibaba, valuing ride-hailing firm at $86 billion

President of Didi Liu Qing and CEO of DiDi Cheng Wei and at the D1 launch event in Beijing on November 16, 2020. Xin Yue/Huanqiu.com/VCG via Getty Images Shares of Didi soared as much as 28% in its IPO debut on Wednesday, lending the Chinese ride-hailing platform a valuation of about $86 billion.The firm priced its IPO at $14 per share and raised about $4.4 billion in proceeds, making it the largest IPO for a Chinese firm since Alibaba in 2014. At the IPO price, Didi was valued at about $67 billion. The company sold 317 million shares , and had guided for an IPO price range of $13-$14.Didi is the second largest ride-hailing app by market value in the world. Uber currently sports a valuation of about $93 billion, while Lyft trades at a $20 billion valuation. The company generated ...