Xunlei Launches $20M Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
Xunlei Limited (NASDAQ:XNET), a Chinese shared cloud computing and blockchain technology innovator, has announced a new $20 million share repurchase program approved by its board of directors. The program will last for the next 12 months, with the board reviewing and adjusting its size and terms if necessary.
June 06, 2023 | 12:02 pm
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Xunlei Limited's new $20 million share repurchase program may lead to a short-term increase in its stock price.
Share repurchase programs are generally seen as a positive signal by investors, as they indicate that the company believes its stock is undervalued. This can lead to increased demand for the stock and a short-term increase in its price. In this case, Xunlei Limited's $20 million share repurchase program may have a similar effect on its stock price.
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