When will Honest Company (HNST) do its IPO?
Honest Company will IPO on 5/5/21 and the ticker symbol will be HNST.
Will the Honest Company (HNST) IPO be available in SoFi’s IPO Investing Center?
No, for SoFi to be able to offer the opportunity to our members to participate in an IPO, we will need to have a distribution agreement with the underwriting bank of that IPO. The Honest Company (HNST) IPO is filing through a direct listing which means they do not have an underwriting bank involved.
Will I be able to purchase shares of Honest Company (HNST) through SoFi?
Yes, once Honest Company (HNST) is available on NASDAQ, it will be available to purchase on our platform. Honest Company will not be available on NASDAQ immediately when the market opens at 9:30 AM EST.
IPOs are typically available later in the day, when Honest Company (HNST) becomes available to trade will depend on the IPO and the activity in the private market. While Honest Company (HNST) is in the private market, you are able to enter a limit order to buy. If you try to place a market order during this time, it will automatically be canceled.
Once it is on NASDAQ, you will search for it just like any other stock and make your purchase.
How much will a share of Honest Company (HNST) cost?
SoFi won’t know the actual opening price until it is available on NASDAQ. The share price is impacted by the trades placed in the private market before it is made available to the public.
Chat with Invest Support if you have additional questions.