Phoenix New Media Announces Up To $2M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Phoenix New Media has announced a share repurchase program of up to $2 million. The company's board of directors has approved the repurchase of its outstanding American Depositary Shares (ADS).
September 27, 2023 | 10:25 am
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Phoenix New Media's announcement of a $2M share repurchase program could potentially increase the value of its shares in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to an increase in the stock's price as the number of shares in circulation decreases. Therefore, this announcement could potentially have a positive impact on Phoenix New Media's stock price in the short term.
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