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A $1 billion buyback could provide fuel to Robinhood stock.
Robinhood (HOOD -1.79%) announced a $1 billion share buyback program on Tuesday, and this could be a great use of the company's cash. In this video, Travis Hoium shows why the company made this decision and why this could provide fuel to the stock long-term.
*Stock prices used were end-of-day prices of May 29, 2024. The video was published on May 29, 2024.
Travis Hoium has positions in Robinhood Markets. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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