Alpha Pro Tech, Ltd. Announces $2M Expansion Of Existing Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Alpha Pro Tech, Ltd. (NYSE:APT) has announced a $2 million expansion of its existing share repurchase program, bringing the total available funds to $2.3 million. The company plans to repurchase shares through open market purchases or privately-negotiated transactions and retire all shares purchased.
June 22, 2023 | 7:36 pm
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Alpha Pro Tech's $2 million expansion of its share repurchase program may lead to a short-term increase in stock price.
The expansion of Alpha Pro Tech's share repurchase program indicates the company's confidence in its stock and may lead to a short-term increase in stock price as the demand for shares increases. Additionally, retiring the repurchased shares will reduce the number of outstanding shares, which could positively impact the stock price.
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