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A poster child of the new-age retail investing phenomenon is going public.

What's new: Robinhood just took the wraps off a filing that has a fresh look at how the at-home trading revolution supercharged its business.

Lockdown boredom and stimulus checks created a new crop of retail traders. But the free trading app warns the end of the pandemic and stimmy checks could reverse that.

  • "It is uncertain whether these trends and behavioral shifts will continue as reopening measures continue," the company notes.
  • "There could be a negative impact ... if no additional stimulus measures are taken."

Then there's Dogecoin's fate (seriously!): Trading of the joke coin accounted for 34% of Robinhood's revenue from cryptocurrency transactions as of March 2021 — compared with 4% just a few months earlier.

  • Overall revenue from crypto trading jumped from $4.2 million to more than $87 million in the space of the pandemic year.

Rememberpayment for order flow (how much other firms pay Robinhood for directing trades their way)? Regulators have signaled they are looking into the practice. They could crack down.

  • New numbers on PFOF's importance to Robinhood: A whopping 81% of revenue came from these payments in the first quarter, up from 75% the same time last year.
  • Citadel Securities is Robinhood's biggest client (though Citadel is only mentioned twice in the 350+ page filing).

The bottom line: One of the most highly anticipated listings of the year (trading under ticker: "HOOD") might be just a month away.

Go deeper: Read the filing.

Transcripts show George Floyd told police "I can't breathe" over 20 times

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Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.

  • The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.

What the transcripts say:

  • Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
  • The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
  • Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."

Read the transcripts via DocumentCloud.