Robinhood Shares Surge on $1 Billion Buyback Announcement
Robinhood Markets Inc. announced a $1 billion share repurchase program, causing its stock to rise in after-hours trading. The buyback is expected to be completed over two to three years starting in Q3 2024. The company's shares have been up approximately 18% over the past month, driven by better-than-expected Q1 financial results and strong growth in net deposits and Gold subscribers.