Those figures would mean a valuation of between $27 billion and $35 billion, placing the trading app in the upper third of the S&P 500.
Robinhood’s revenue grew by 245% to $959 million last year on the back of increased usage figures and its central role in an explosion of retail trading.
That prominence has led to the firm becoming the centre of a number of controversial investigations and allegations.
Last month, the US Financial Industry Regulatory Authority (FINRA) levelled a $57 million penalty against Robinhood.
The sanctions represent the largest financial penalty ever ordered by FINRA, which it says reflects “the scope and seriousness of the violations”.
