The FTX derivatives exchange has added futures contracts on the forward price of Robinhood’s shares to its listing. The instrument, ticker HOOD allows traders to speculate on the stock’s price before its public listing on the stock exchange (IPO).
Is @RobinhoodApp the future of finance? Will it recover from the Wall Street Bets disaster?
FTX has listed Robinhood pre-IPO contracts so you can express your opinion! https://t.co/ntTS5MTtHN pic.twitter.com/NmvponvJ4U
— FTX — Built By Traders, For Traders (@FTX_Official) April 2, 2021
Trading began on April 2 at around $40. At the time of writing, the price was $103.40.
On March 24, the crypto-friendly Robinhood filed with the U.S. Securities and Exchange Commission a Form S-1 for an initial public offering.
FTX announced the launch of HOOD and a similar derivative on Coinbase (CBSE) in December 2020. The first such instrument was futures on Airbnb equity.
Follow ForkLog news on Twitter!