Noodles & Company Has Authorized A Share Repurchase Program Allowing Company To Repurchase Up To $5M Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Noodles & Company has authorized a share repurchase program allowing the company to repurchase up to $5M of its common stock. The decision comes as the company sees growth in dine-in sales and anticipates meaningful Adjusted EBITDA growth in 2023.
August 09, 2023 | 8:29 pm
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Noodles & Company's share repurchase program could potentially increase the stock's price in the short term as it reduces the number of shares in circulation.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to a short-term increase in the stock price as the number of shares in circulation decreases. Given the positive outlook expressed by the company, this could potentially boost investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100