GS - Want to Buy the Hottest IPOs? It's About to Get Much Easier
Two fintech disruptors have recently announced plans to bring IPO investing to Main Street investors. SoFi, which is set to go public shortly via a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE) , and low-cost stock trading pioneer Robinhood both plan to create platforms that put IPO shares into the hands of their users.
According to SoFi CEO Anthony Noto, who worked on more than 50 IPOs during his tenure at Goldman Sachs (NYSE: GS) , SoFi will become an underwriter on initial public offerings, just like the major investment banks and brokerages often are. But instead of offering shares only to wealthy clients and large institutional investors as the incumbents do, SoFi will make them available to any of its retail investing clients with an account value of at least $3,000.
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Want to Buy the Hottest IPOs? It's About to Get Much Easier