Robinhood’s (HOOD) board of directors has approved a new $1.5 billion stock repurchase program, according to an 8-K filing with the U.S. Securities and Exchange Commission.
This adds more than $1.1 billion to existing buyout capacity.
The company said it plans to carry out the plan over about three years starting in the first quarter of 2026, although it is not required to purchase a set amount.
Along with the buyout, Robinhood also strengthened its access to financing. Its subsidiary, Robinhood Securities, entered into an updated credit agreement with lenders led by JPMorgan. The agreement increases the 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 crypto-related trading, has lost more than 50% of its value since bitcoin hit its peak in early October. Shares are up 1.4% in after-hours trading.
