Applovin Said On August 21, Co Entered Agreement To Repurchase 15M Shares Of Its Class A Common Stock
Portfolio Pulse from Charles Gross
Applovin Corporation has entered into an agreement to repurchase 15 million shares of its Class A common stock. The transaction was announced on August 21.
August 21, 2023 | 10:13 am
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Applovin Corporation's decision to repurchase 15 million shares of its Class A common stock could potentially increase the stock's price in the short term.
Share repurchases often lead to an increase in the stock price as they reduce the number of shares outstanding, which increases earnings per share and often leads to a higher market valuation. Therefore, this news is highly relevant and important for APP investors.
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