Robinhood Ventures Fund II Debuts on NYSE After Record Quarter

Robinhood Ventures Fund II, the second closed-end fund from Robinhood's venture arm, is set to begin trading on the New York Stock Exchange Thursday under the ticker RVII. The listing extends Robinhood's push to give retail investors access to pre-IPO private companies, following the launch of its first ventures fund.

The debut comes on the heels of a strong second quarter for the brokerage. Robinhood reported adjusted earnings of $0.62 per share, beating estimates, as revenue climbed 32% year over year to a record $1.31 billion. The stock traded around $94 on Wednesday, still well below its 52-week high of $152.46 set last October.

Analyst views remain mixed on valuation: Cantor Fitzgerald trimmed its price target to $115 from $130 while keeping an Overweight rating, days after Bank of America lifted its own target on the shares. Shares recently formed a golden cross, a technical pattern last seen more than two and a half years ago.