Chegg Announces Increased Authorization Of Securities Repurchase Program By $200M
Portfolio Pulse from Benzinga Newsdesk
Chegg has announced an increase in the authorization of its securities repurchase program by $200 million.

August 16, 2023 | 8:32 pm
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Chegg's increased authorization of its securities repurchase program could potentially boost its stock price in the short term.
Companies often repurchase their own shares to reduce the number of shares outstanding, which can increase earnings per share and, consequently, boost the stock price. Therefore, Chegg's announcement of increasing its securities repurchase program by $200M could potentially lead to a short-term increase in its stock price.
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