Robinhood Slides Down The App Store Rankings As Its Blockbuster IPO Approaches

Robinhood Slides Down The App Store Rankings As Its Blockbuster IPO Approaches
Andrew Rummer

over 2 years ago1 min

Mentioned in story

As Robinhood gears up to join the stock market in an initial public offering (IPO), the brokerage is rapidly dropping down the rankings of most popular apps.

Robinhood was the most popular app in Apple’s entire US App Store for large chunks of April and May – beating such perennial favorites as Google Maps and TikTok – as interest in “meme” stocks like AMC Entertainment and the joke cryptocurrency dogecoin soared. By Sunday, however, Robinhood’s ranking had dropped as low as 269. 

Looking just at the finance category, Robinhood has slipped to 10th most popular app in the US, having sat safely in the top five until early June. That’s still handily above rivals like Public at number 22 and Etrade at 88, however. 

Robinhood announced plans to join the stock market with the ticker HOOD earlier this month. The company, which hasn’t yet finalized a date for its IPO, plans to set aside up to 35% of the offered shares for its own users to buy. Those considering whether to invest in the upstart brokerage might want to keep a keen eye on whether its App Store ranking can recover before taking the plunge. 

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