Robinhood Gets IPO Underwriting Approval Ahead of SpaceX Debut

Robinhood Securities is now approved to underwrite initial public offerings. The move follows a 1.76 million customer increase to 27.7 million in May and comes as SpaceX prepares to debut with a $135 per share offering that could raise $75 billion. Robinhood shifts from distributing shares to directly setting prices and securing investor demand for new listings.