You can now buy Robinhood stock: here is how and where to do it

By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
on Jul 29, 2021
  • Robinhood, the popular North American trading app, had its IPO today
  • This means you can now buy HOOD shares; we explain how
  • Where can you buy Robinhood stock today?

Robinhood became a publicly-traded company today. It has been listed on the Nasdaq stock exchange via an unorthodox IPO under the ticker, HOOD. According to a press release, the stock trading platform has raised around $2.1 billion, which is at the low end of its $38-$42 price range.

This article explains how to buy Robinhood shares today, providing you with a list of the best Robinhood trading platforms and other key information that you should know before investing. If investing in Robinhood is of interest to you, or if you just want to find out more about the HOOD IPO, you have come to the right place.

How to buy Robinhood shares today

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To buy HOOD stock today, check out the section directly below. There, our analysts have listed the best places to buy Robinhood stock in the UK and worldwide.

Once you have chosen the platform that best suits your investing goals and financial needs, click on the relevant link. Then, fill out some basic information and verify your account. After you have completed these simple steps, simple fund your newly created account via a supported source and buy the number of HOOD shares you want to hold.

Where to buy Robinhood stock online

You can invest in Robinhood stock via either of the following platforms. Our analysts have tested all of the top trading options, and they have determined the two below offer the best all-around service for investors and traders thanks to their low fees, high-quality user interfaces and general ease of use.

So, without further ado, here are the best platforms to buy, sell and trade Robinhood shares right now:

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

Register with eToro instantly

Webull

Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.

Register with Webull instantly

What is Robinhood?

Founded in April 2013 by Vladimir Tenev and Baiju Bhatt, and based in California, it is an American financial services company. Via its easy-to-use app that launched in 2015, it offers commission-free investing access to a diverse arrange of assets, including stocksexchange-traded funds (ETFs), options, gold, and cryptocurrencies.

Should I buy the Robinhood IPO?

Whether or not you should buy HOOD stock depends on your own investment strategy and your tolerance of risk. Investing in any IPO always carries a degree of risk, but this is often mitigated by the involvement of institutional investors who help stabilised a stock’s price.

While Robinhood’s reputation with the public has been tumultuous in recent months, especially in the face of the WallStreetBets fiasco, its commission-free model has produced significant success, generating $682 million in payment-for-order-flow revenue in 2020, a 514% increase year-on-year. In addition, despite its recent controversies, it managed to add $3.4 billion to its balance sheet during the GameStop short squeeze.

With more than 13 million active users already, this capital raise could be a catalyst moment for Robinhood, sparking a new phase of growth and driving the company towards an increased valuation and overall operational expansion.

Be sure to keep checking the Invezz news in the coming weeks to find out our Robinhood price target for 2021.

Social media coverage of the $HOOD IPO

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