BBX News: On June 17th, BitGo Holdings announced a $50 million stock buyback plan, with the stock price rising about 20% during the day, but still down about 65% from the IPO price in January; Robin Hood Market, on the other hand, saw its stock price soar by over 10% on the same day, following a layoff of approximately 10% the day before and the record breaking trading volume in June. Under the macro pressure of hawkish interest rate negotiations by the Federal Reserve, both companies have emerged from independent markets through specific company level actions.
Core points:
——BitGo Holdings (NYSE: $BTGO): On June 17th, the board of directors approved a stock buyback of up to $50 million, representing approximately 8% of Class A shares, with immediate effect and no fixed expiration date; The company's IPO was priced at $18 on January 22, 2026, raising over $212 million. The current stock price is around $5.50-6.15, a decrease of approximately 65% -70%; The stock price increased by about 11.6% -20% on the same day (with slight differences in data sources); Provide digital asset custody, trading, staking, and settlement services, and issue the World Liberty Financial USD stablecoin USD1 associated with the Trump family.
——Robin Hood Market (Nasdaq: $HOOD) announced on June 16th that it will lay off approximately 290 employees (about 10% of its workforce), with an expected restructuring cost of approximately $28 million; On June 17th, the stock price surged by over 10% in a single day, closing at $108.39; In May, the platform's assets were 377 billion US dollars (+48% year-on-year); Deutsche Bank's target price has been raised to $105, maintaining a buy rating; Approved to underwrite IPO business for its subsidiary Robin Hood Securities.
Source: bbx.com