Carleton English

The company's shares have been rising recently, and got a further boost from an analyst endorsement Friday.

The decision follows earlier fumbles by Robinhood as it tries to disrupt banking and brokerage services.

The NYSE's proposal would broaden the range of companies that could go public via a direct listing rather than the traditional IPO route.

The company would be the latest to go public with a direct listing, which doesn't raise new cash, and allows existing investors to sell shares immediately.

A huge loss and persistent regulatory concerns undermined investor confidence, even though revenue grew by 50%.