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How to buy Robinhood (HOOD) shares from Australia

Here's everything we know so far about the Robinhood IPO.

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Thursday, July 29: Robinhood priced its initial public offering at US$38 per share, the low end of its US$38 to US$42 range. The stock debuted at US$38 per share before jumping to a high of US$40.22 in its first trading day.

Tuesday, July 27: Robinhood’s much-anticipated IPO is scheduled to price July 28 and start trading July 29.

Thursday, July 1: Robinhood filed publicly with the US Securities and Exchange Commission its intention to trade on the NASDAQ under the ticker symbol HOOD.

Wednesday, March 23: Robinhood filed a confidential registration statement with the US Securities and Exchange Commission, indicating its plans to go public.

Robinhood is a popular US trading app that offers commission-free stocks, ETFs and options trading. The company was founded in 2013 and is headquartered in San Francisco, California.

On July 29, 2021, Robinhood officially listed on the NASDAQ at US$38 a share, raising nearly US$2 billion. The company's shares are listed on NASDAQ under the ticker symbol HOOD.

Also read: Alternatives to Robinhood in Australia

How to buy shares in Robinhood

To buy shares listed in the US, you’ll need a brokerage account with access to the US stock market. Check out the steps below:

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Robinhood. Find the stock by name or ticker symbol (HOOD). Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Robinhood reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Robinhood, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Robinhood. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

About the Robinhood IPO

Robinhood listed on the NASDAQ at US$38 per share on July 29.

The trading app disclosed a pre-IPO filing with the U.S. Securities and Exchange Commission on July 1, 2021, ending months of speculation.

Investment firms Goldman Sachs and JPMorgan are helming the deal, while Barclays, Citigroup and Wells Fargo are onboard to book-run the offer.

The company could be worth more than US$20 billion, according to Reuters. In its September 2020 funding round, Robinhood raised US$460 million and was valued at US$11.7 billion. A Bloomberg report suggested the value could go much higher, up to US$30 billion.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Robinhood can be useful in determining how the market is performing and whether now is a good time to invest in this industry.

Select a company to learn more about what they do and how their stock performs, including market capitalisation, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

Compare trading platforms to buy Robinhood shares

Name Product Standard brokerage for US shares Currency conversion fee Asset class
eToro
Finder AwardExclusive
eToro
US$0
50-150 pips
ASX shares, Global shares, US shares, ETFs
Finder exclusive: Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account (T&Cs apply).
CFD service. Capital at risk.
Join the world's biggest social trading network when you trade stocks, commodities and currencies from the one account.
Moomoo Share Trading
US$0.99
55 pips or 0.0055 AUD/USD
ASX shares, Global shares, US shares, ETFs
Finder exclusive: Get $100 to trade when you deposit $1,000, or $200 when you deposit $5,000 or more. Earn 6.8% p.a. on uninvested cash. T&Cs apply.
Trade shares on the ASX, the US markets and buy ETFs with Moomoo. Plus join a community over 20 million investors.
Tiger Brokers
Exclusive
Tiger Brokers
US$2
37 pips
ASX shares, Global shares, US shares, ETFs
Finder exclusive: 10 no-brokerage US or ASX market trades in the first 180 days + 7% p.a. on uninvested cash with first deposit of any amount, plus US$30 TSLA + US$30 NVDA shares with deposits up to AU$2000. T&Cs apply.
Trade Australian, US and Asian stocks with no minimum deposit on Tiger Broker’s feature-packed platform.
CMC Invest
Finder Award
CMC Invest
US$0
0.60%
ASX shares, Global shares, Options trading, US shares, ETFs
$0 brokerage on US, UK, Canadian and Japanese markets (FX spreads apply).
Trade over 45,000 shares and ETFs from Australia and 15 major global markets. Plus, buy Aussie shares or ETFs for $0 brokerage up to $1,000 (First buy order of each security, each day - excludes margin loan settled trades).
Webull
US$0.25
0.50% (50 pips)
ASX shares, Global shares, Options trading, US shares, ETFs
Get advanced research and trading tools with $0 brokerage and free lvl 2 NASDAQ stock data for 30 days. T&Cs apply.
Trade ASX and US stocks and US options, plus gain access to inbuilt news platforms and educational resources. You can also start trading for less with fractional shares.
Saxo Invested
Saxo Invested
US$1
0.25%
ASX shares, Global shares, Options trading, US shares, ETFs
Access 22,000+ stocks on 50+ exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
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The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.

Robinhood IPO explained in 60 seconds

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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