Robinhood takes its IPO to the masses

IT WOULD BE hard for a firm that describes itself as “democratising investing” to go public in any other way. After Robinhood’s listing on the Nasdaq on July 29th, institutional investors will, as is usual, be able to buy and trade shares on the exchange. Less conventionally, the broker also allowed its users to buy up to a third of its shares before trading. (They bought about a quarter, according to Bloomberg.)