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Robinhood files for long-awaited IPO

Popular trading app Robinhood on Thursday filed for its initial public offering,m and disclosed that it will set aside up to 35% of shares for retail investors who rarely get to buy at a company's IPO price.

Timing: Earlier this week, Robinhood agreed to pay a record $70 million in fines and restitution, as part of a settlement with the Financial Industry Regulatory Authority over providing customers with "false or misleading information."

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