Robinhood, SoFi pares morning gains after Reuters report on E*TRADE to lead share sale

SoFi Technologies

30/03/2026 18:09

** Shares of retail trading platform Robinhood HOOD.O and fintech lender SoFi Technologies SOFI.O pares gains made earlier in the day to trade down 0.7% at $65.55 and 0.26% at $15.19 respectively

** Reuters reports of Morgan Stanley's E*TRADE in talks to lead SpaceX IPO share sale to retail investors, according to two people familiar with the matter

** HOOD and SoFi have both pitched for roles on the deal but SpaceX is considering cutting them out altogether, the people said, asking not to be identified because the talks are private

** Mutual fund company Fidelity is also vying for a chance to distribute some of the shares on its trading platform, one of the people said

** Robinhood, Morgan Stanley, SoFi and Fidelity declined to comment while SpaceX did not respond to a request for comment

** Morgan Stanley acquired E*Trade for $13 billion in 2020, making it one of the bank's largest ever takeovers

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))