Robinhood’s (HOOD) board has accredited a brand new $1.5 billion share repurchase program, in response to 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 mentioned it expects to hold out the plan over about three years beginning within the first quarter of 2026, although it’s not required to purchase a set 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 complete commitments to $4.875 billion.
One in all final yr’s hottest shares, largely because of 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.