Summary by Moomoo AI
On May 28, 2024, Robinhood Markets, Inc. announced the approval of a share repurchase program by its board of directors, authorizing the company to buy back up to $1 billion of its Class A common stock. The program is expected to be executed over two to three years starting from the third quarter of 2024. The repurchase plan will be subject to market conditions, share price, and other factors, with the company retaining the flexibility to adjust the timing and volume of buybacks. The program does not have a set expiration date and may be suspended or discontinued at the company's discretion. Robinhood has communicated this development through a blog post and advises investors to follow its Investor Relations website and Newsroom for further disclosures, in line with SEC's Regulation Fair Disclosure.