Business

Robinhood files confidential documents to make them public, source says

Co-founder and co-CEO of Robinhood Vladimir Tenev.

Noam Galai | Getty Images

Robinhood has filed confidential documents to pursue an initial public offering (IPO), a source familiar with the matter told CNBC on Tuesday.

Bloomberg first reported on confidential repository.

The company had a swirling start to the year as the pandemic helped attract new retail investors to its equity trading app. This boom put Robinhood in hot water earlier this year when it decided to restrict trading sure GameStop, the severely short-circuited stock that traders on Reddit chose to buy en masse.

This story is developing. Check back for updates.

-Kate Rooney of CNBC contributed to this report.

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