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Robinhood has chosen the Nasdaq as the exchange for its eventual initial public offering, according to sources familiar with the matter.
The company has not yet filed officially for the listing.
The stock trading app has lowered the barrier to entry for millions of retail investors, setting the stage for one of the biggest public debuts of the year.
It’s unclear if Robinhood has chosen a direct listing or a traditional IPO, sources said. Regardless of the method, Robinhood will file an S-1 with the Securities and Exchange Commission. Typically, it takes about one to two months for companies to make their debut once they file with the SEC.