The Robinhood application on a smartphone.
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Robinhood is giving amateur investors access to initial public offering shares in its latest move to democratize retail investing.
IPO shares have historically been set aside for Wall Street’s institutional investors or high-net worth individuals. Retail traders typically don’t have a vehicle to buy into newly listed companies until those shares begin trading on an exchange, which is often after the share price has surged.
“We’re starting to roll out IPO Access, a new product that will give you the opportunity to buy shares of companies at their IPO price, before trading on public exchanges. With IPO Access, you…