Robinhood Markets plans a $1bn share repurchase over 2-3 years, leading to a 7.4% share increase.
Robinhood Markets, the online brokerage firm, plans to repurchase up to $1bn of its shares over a 2-3 year period, starting in Q3. The announcement led to a 7.4% increase in the company's shares. The share repurchase plan comes as Robinhood's business and cash flow grow, with plans to expand beyond retail brokerage and commission-free trading, including the rollout of a credit card for US consumers.
May 28, 2024
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