Shares of Robinhood Markets Inc. galloped 2.6% higher Friday, after the trading app disclosed that it bought back 55.3 million of its shares from the U.S....
Shares of Robinhood Markets Inc.
galloped 2.6% higher Friday, after the trading app disclosed that it bought back 55.3 million of its shares from the U.S. Marshal Service. The company said it paid $605.7 million for the shares, which represents 6.1% of the company’s market capitalization of $9.93 billion at Thursday’s close. The shares were originally acquired through Emergent Fidelity Technologies Ltd. by Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX that collapsed last year.
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