Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>More than 7% of Robinhood stakes were held by the former CEO of FTX.&nbsp;</a> </li> 
 <li> <span>2</span> <a>Robinhood revealed the recent purchase of 55,273,469 of its shares for an average $10.69.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Hood stock surged over 3% following the buyback news and its prices surged over 8% in a week.&nbsp;&nbsp;&nbsp;</a> </li> 
</ul> 
<p>Robinhood, a cryptocurrency and stock trading platform, announced the purchase of 55 Million of its company shares which were held by the now jailed founder of FTX, Sam Bankman Fried (SBF).&nbsp;</p> 
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  <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
   <p lang="en" dir="ltr">This morning we announced the purchase of shares previously owned by Emergent Fidelity Technologies. More here: <a href="https://t.co/dHPXHQrc1P" rel="noopener noreferrer nofollow">https://t.co/dHPXHQrc1P</a></p>— Robinhood Comms (@RobinhoodComms) <a href="https://twitter.com/RobinhoodComms/status/1697612649352028510?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 1, 2023</a> 
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<p>On August 31, Robinhood released a detailed report informing that the trading platform has bought back all 55,273,469 shares and each share was purchased at a price of $10.69,&nbsp;</p> 
<p>After achieving the target to buyback its shares, Jason Warncik, the Chief Financial Officer of Robinhood Market Inc. said that, “the team is happy to buy back the share held by former founder of FTX,” he added “Now the major aims of the company is to focus on&nbsp; growth plans on behalf of our customers and shareholders.”&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-robinhood-market-inc-stock-price-analysis-strong"><strong>Robinhood Market Inc. Stock Price Analysis</strong></h2> 
<p>Since the past one week, Robinhood stock price surged over 8.26% and a major surge in the trading price is seen in the quarterly time frame. NASDAQ: HOOD is trading below its annual price target, the annual price target for 2023 is $12.98.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/Mau8uxjmJ9mCphbSJ5XMBdZHG-cg6NyiPAKltZ16fcXgg_xP_vOZ7DpDfOrg_CtmX1vZyTNncBYCaUA8jeC9gnKy9xjcuYs01x-i7g1mJVbA2qcc9r8biWK7q4nMQJF2OxMvUF7cmATKSdVdmki5ln4" alt="Robinhood Repurchased SBF- Held&nbsp; Stakes; Hood Stock Surged 3%&nbsp;"> 
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    Source: Robinhood stock price chart from <a href="https://www.tradingview.com/x/DskCYcMf/" rel="noopener noreferrer nofollow">TradingView&nbsp;</a> 
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<p>The positivity of buying back stakes has spread all around and on September 1 2023, HOOD stock opened 3.76% higher than its previous trading price. In the 52 weeks time frame Robinhood stock’s highest trading price was $13.23 and its lowest traded at $7.57.&nbsp;</p> 
<p>As per market analysts, if the buyers’ dominance continued then there are possibilities that HOOD stock might soon cross the immediate resistance of $11.80 and possibly the next resistance $12.61.&nbsp;</p> 
<p>In different situations, if sellers restrict buyers’ path, then possibilities are that HOOD stock price might fall and face immediate support of $11.17 and following support of $10.51.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/08/29/robinhood-stock-hood-stock-defends-10-time-for-reversal/" rel="noopener noreferrer nofollow">Robinhood </a>Markets, Inc. was supposed to report $472.94 Million in revenue, impressing its investors, its report 2.76% more revenue than estimated figures.&nbsp;</p> 
<p>The company is yet to report third and fourth quarter revenue and it is predicted that it might report $477.57 Million in Q3 and $497.80 Million in Q4, 2023.&nbsp;</p> 
<p>From the reported revenue of 2022, gross profit of the company was 84% including -64% of earnings before interest, taxes, depreciation, and amortization (EBITDA), -68% of&nbsp; earnings before interest and taxes (EBIT) and net income was -74%&nbsp;</p> 
<p>According to TradingView, 472.745 Million HOOD shares are free- floating and remaining 438.694 Million shares are closely held either by financial backers of the company or the board of members.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Robinhood Repurchased SBF- Held Stakes; Hood Stock Surged 3%

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Thecoinrepublic.com

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