Robinhood Shares Jump After Company Buys Back Bankman-Fried’s Seized Shares

Shares of Robinhood jumped more than 4% Friday morning after the online brokerage bought back more than $605 million in company stock that had been owned by indicted former FTX head Sam Bankman-Fried and seized by the federal government after his high-profile fall from grace. Robinhood’s shares rose to a nearly one-month high, at just over $11.30 per share, after it said it closed on an agreement with the U.S. Marshal Service this week to buy nearly 55.3 million shares at $10.96 each. Those shares, which represent roughly 7% of...