May 20, 2021 - Economy & Business

Robinhood allows users to buy into IPOs

Illustration of a manila folder with the Robinhood logo on it, with hundred-dollar bills inside.

Illustration: Brendan Lynch/Axios

Robinhood, the no-fee trading app, said Thursday it would gradually roll out features allowing users to buy company shares at their IPO price.

Why it matters, via Axios' Kia Kokalitcheva: Investing into IPOs has historically been reserved for Wall Street insiders, but this move is in line with Robinhood's image of "democratizing investing."

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