Robinhood’s (HOOD) board of directors approved a new $1.5 billion share buyback program, according to an 8-K filing with the U.S. Securities and Exchange Commission.
Adds more than $1.1 billion to existing buyback capacity.
The company said it hopes to carry out the plan for about three years starting in the first quarter of 2026, although it is not obligated to purchase a fixed amount.
In addition to the buyback, Robinhood also strengthened its access to financing. Its affiliate, Robinhood Securities, entered into an updated credit agreement with lenders led by JPMorgan. The deal expands a revolving credit facility to $3.25 billion, up from $2.65 billion, with the option to increase total commitments to $4.875 billion.
HOOD, one of last year’s hottest stocks, largely thanks to the rise of cryptocurrency-related trading, has lost more than 50% of its value since bitcoin peaked in early October. Shares rose 1.4% in after-hours trading.
