Robinhood (HOOD)'s board of administrators has authorised a brand new $1.5 billion inventory repurchase program, based on an 8-Ok submitting with the U.S. Securities and Alternate Fee.
This will increase present repurchase capability by greater than $1.1 billion.
The corporate plans to implement the plan over a interval of roughly three years beginning within the first quarter of 2026, however stated it isn’t obligated to buy a hard and fast quantity.
Alongside the share buyback, Robinhood additionally elevated its entry to financing. Robinhood Securities, a subsidiary of the corporate, has entered into an up to date credit score settlement with JPMorgan-led lenders. The settlement expands the revolving credit score facility from $2.65 billion to $3.25 billion, with an possibility to extend complete commitments to $4.875 billion.
One of many hottest shares final yr, HOOD has misplaced greater than 50% of its worth since Bitcoin hit its all-time excessive in early October, thanks largely to the increase in crypto-related buying and selling. Shares rose 1.4% in after-hours buying and selling.
