Snap Announces $500M Buyback Program Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Snap Inc. has announced a $500 million buyback program of its common stock. This move is aimed at returning value to shareholders and shows confidence in the company's future growth.
October 24, 2023 | 8:11 pm
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Snap's announcement of a $500 million buyback program could potentially boost its stock price in the short term as it shows the company's confidence in its future growth.
Stock buybacks are generally seen as a positive signal by the market as they reduce the number of shares outstanding, potentially increasing the earnings per share. Moreover, it shows that the company believes its stock is undervalued and has confidence in its future growth.
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