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Some early investors who pumped funds into Robinhood amid GameStop surge were granted SEC approval to sell their shares

12 days ago   |   By Business Insider

Robinhood.
Brendan McDermid/Reuters
Some of Robinhood's pre-IPO investors were given SEC approval to sell their shares.
Early investors, such as Ribbit Capital, pumped billions into the trading app after the GameStop trading halt.
JPMorgan analysts warned previously of downward pressure on Robinhood stock as more shares are freed up.
Early Robinhood investors who pumped money into the retail-trading app amid the January GameStop surge can sell their shares, after the US Securities and Exchange Commission approved the move. The SEC approval became effective Wednesday, a filing shows. The...
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