Trading app Robinhood unveils maiden stock buyback plan of $1 billion


FILE PHOTO: Robinhood logo is seen on a smartphone in front of a displayed same logo in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Trading app Robinhood Markets launched its first-ever share buyback plan on Tuesday, saying it would repurchase $1 billion worth of stocks as it looks to grow beyond its startup phase.

The company, best known for being the go-to app for retail traders, has been rolling out a series of new features to cater to its customers' demand for sophisticated products.

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