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Stock impact report

Robinhood to buy back Bankman-Fried's stake from US government for $605.7M [FOX Business Network]

Robinhood Markets, Inc. - Class A (HOOD) 
Robinhood said on Friday it had entered into a share repurchase agreement with the United States Marshal Service (USMS) for $605.7 million to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies. The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year. POT STOCKS RALLY AFTER HEALTH OFFICIALS ASK DEA TO RECLASSIFY MARIJUANA AS LOWER-RISK DRUG On Wall Street , Robinhood shares are up on the news. Ticker Security Last Change Change % HOOD ROBINHOOD MARKETS INC. Powered By The online brokerage said the sale of the 55.3 million shares at $10.96 apiece had been approved by the U.S. District Court for the Southern District of New York. Robinhood first disclosed its intention to buy back the stake in February and said the company's board had authorized it to pursue purchasing most or all of the stock. HURRICANE IDALIA: F Show less Read more
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