Shutterstock shares are trading higher after the company announced an up to $100 million stock repurchase program.
Portfolio Pulse from Benzinga Newsdesk
Shutterstock announced an up to $100 million stock repurchase program, leading to its shares trading higher.
June 07, 2023 | 4:54 pm
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Shutterstock's stock repurchase program of up to $100 million has led to its shares trading higher.
The announcement of Shutterstock's stock repurchase program has a direct impact on its share price, as it indicates the company's confidence in its own stock and its willingness to invest in it. This typically leads to increased demand and higher share prices in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100