Robinhood Announces $1 Billion Stock Buyback Plan

The trading app aims to repurchase shares over the next two to three years, signaling maturity and confidence in its future.

Robinhood's stock rose over 4% following the buyback announcement.
The buyback program is set to begin in the third quarter of this year.
Robinhood has introduced new products, including a credit card and retirement accounts.
The company believes its shares are undervalued, reflecting management's confidence.
Despite recent gains, Robinhood's stock remains significantly below its 2021 IPO price.