Vlad sells Robinhood shares whilst telling everyone else to buy Robinhood shares.
Robinhood CEO Vladimir Tenev sold 1.25 Million Hood during this weeks IPO at a price of $36.40, amounting to around $45,500,000 USD, which is a pretty nice earner.
The official SEC filing form shows that other Robinhood execs also sold shares, including CFO Jason Warnick and CMO Christina Smedley, who sold all of hers. Yes, you heard that right. 100% of her just short of 100,000 shares, netting her a cool $3.5M.
And all this whilst the company was engaged in it’s IPO, which bombed in its first day as Apes basically ignored it.
Whilst it’s not unusual for execs to sell some shares prior to an IPO to make a bit of a buck and hope they drop the price for a nice return, we do think it’s a little bit of interesting news which you should be aware of.