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Robinhood is not a meme stock and doesn’t plan to sell shares to raise funds, CFO says

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Newly public stock trading app Robinhood is not looking to do a secondary offering to take advantage of its retail investor-driven share price rise, according to the company’s chief financial officer.

“It doesn’t resonate with me to call Robinhood a meme stock,” Robinhood CFO Jason Warnick told CNBC’s Kate Rooney on “Squawk Box” on Thursday. “To your question about additional fundraising, we don’t have any plans at this time to raise additional funds.”

A week after Robinhood’s lackluster debut at $38 per share, the stock experienced a surge in share price. The free trade pioneer become part of the meme-stock craze it once helped ignite, with retail traders driving an eye-popping rally….



Source cnbc.com

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