Smith & Wesson Stock Starts Wednesday With A Bang: What's Going On?
Portfolio Pulse from Adam Eckert
Smith & Wesson Brands Inc (NASDAQ:SWBI) announced a new stock repurchase program of up to $50 million, which led to a rise in its stock price. The buybacks can be made until Sept. 19, 2024. The company's shares are up approximately 34% year-to-date.
September 20, 2023 | 1:11 pm
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Smith & Wesson's new stock repurchase program of up to $50 million has led to a rise in its stock price. The company's shares are up approximately 34% year-to-date.
Stock repurchase programs are generally seen as a positive signal by the market, as they indicate that the company believes its stock is undervalued. This can lead to increased demand for the stock, pushing up the price. Smith & Wesson's announcement of a new buyback program has likely contributed to the rise in its stock price.
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