Robinhood rises after unveiling new $1.5 bln stock buyback
Retail trading platform Robinhood HOOD.O shares rise 1.7% post-market to $70.23 as it reloads stock buyback program
HOOD says board approved new $1.5 bln share repurchase program, per an SEC filing
This replaces prior program, is inclusive of amounts that remained available for repurchase, and represents more than $1.1 bln of incremental capacity, co says
It expects to conduct the new program for approx three years, beginning in Q1 2026
Menlo Park, California-based HOOD has ~900.3 mln shares outstanding for roughly $62.2 bln market cap
Stock closed down 4.7% at $69.08 on Tues, extending YTD decline to ~39% vs Nasdaq's .IXIC >6% fall
Of 26 analysts covering the stock, 22 rate "strong buy" or "buy", 3 "hold" and 1 recommends "sell"; median PT $121.50, per LSEG data
