Mammoth Energy Services Says Board Has Approved Stock Repurchase Program To Repurchase Up To The Lesser Of $55M Or 10M Shares
Portfolio Pulse from Benzinga Newsdesk
Mammoth Energy Services has announced that its board has approved a stock repurchase program. The company plans to repurchase up to the lesser of $55 million or 10 million shares.
August 11, 2023 | 12:04 pm
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Mammoth Energy Services' stock repurchase program could potentially increase the stock's value in the short term as it reduces the number of shares in circulation.
Stock repurchase programs are typically seen as a positive signal by the market as they reduce the number of shares in circulation, potentially increasing the value of remaining shares. However, the actual impact will depend on various factors including the company's financial health and market conditions.
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