Svmuu News: Robinhood's board of directors approved a $1.5 billion share buyback plan on Tuesday. Robinhood's Chief Financial Officer, Shiv Verma, stated that this authorization reflects the management and board's confidence in continuously launching innovative products for customers and creating value for shareholders.
The company indicated it expects to execute this $1.5 billion authorization over approximately the next three years, while retaining the flexibility to accelerate buybacks when market conditions permit. Previously, the board approved a $1 billion buyback plan in May 2024 and an additional $500 million plan in April 2025.
In recent years, Robinhood has increased its focus on crypto business, including promoting 24/7 on-chain stock trading and offering tokenized exposure to large private companies for non-U.S. customers; its Arbitrum-based Ethereum Layer 2 network, Robinhood Chain, has already launched its testnet. (The Block)