Even a rumored $20 billion valuation would be a conservative estimate, says S&P Global Market Intelligence about Robinhood's pending IPO.

Robinhood generated 61% of its $720 million in 2020 revenue from options trading, according to its S-1 filing.

The idea that new traders won't be able to stomach a market crash isn't new, but one investor said that Robinhood's simple interface could add to the problem.

Robinhood estimates close to 50% of all new retail funded accounts opened in the US from 2016 to 2021 were new accounts created on its platform.

Robinhood said the complaints allege breach of contract and negligence, among other claims.

The company which publicly filed for an IPO on Thursday mentioned the search warrant in its risk factors for investors.

Robinhood said its business may be adversely affected if the markets for dogecoin deteriorate or if the dogecoin prices goes down.

The trading app provider intends to disclose its financials and go ahead with its IPO as soon as the regulator's review is complete.

The trading app is targeting late June for its public trading debut, according to Bloomberg.