The twists and turns of the online brokerage's path to a public offering

The brokerage app Robinhood has transformed retail trading. WSJ explains its rise amidst a series of legal investigations and regulatory challenges as it looks forward to its IPO. Photo illustration: Jacob Reynolds/WSJ

WSJ Explains
News moves fast, and there's not always time to untangle the complex forces driving the day's biggest stories. WSJ Explains breaks down big market moves, business and economic trends, and scientific developments to help you stay ahead of the curve.

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