Robinhood’s (HOOD) board has permitted a brand new $1.5 billion share repurchase program, in line with an 8-Ok submitting with the U.S. Securities and Alternate Fee.
It provides greater than $1.1 billion to present buyback capability.
The corporate stated it expects to hold out the plan over about three years beginning within the first quarter of 2026, although it isn’t required to purchase a hard and fast quantity.
Alongside the buyback, Robinhood additionally strengthened its entry to funding. Its subsidiary, Robinhood Securities, entered into an up to date credit score settlement with lenders led by JPMorgan. The deal expands a revolving credit score facility to $3.25 billion, up from $2.65 billion, with the choice to extend whole commitments to $4.875 billion.
One in every of final 12 months’s hottest shares, largely due to the growth in crypto-related buying and selling, HOOD has misplaced greater than 50% of its worth since bitcoin topped in early October. Shares are up 1.4% in after hours buying and selling.