AMTD IDEA Earmarks 70% Of The Share Repurchase Program's Total Approved Amount In October And November, 2023
Portfolio Pulse from Benzinga Newsdesk
AMTD IDEA Group (NYSE:AMTD) has announced an extension of its existing share repurchase program until the end of Q1 2024. The board of directors has also approved to set forth and earmark 70% of the program's total approved amount for October and November 2023.
October 25, 2023 | 1:31 pm
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AMTD IDEA Group's extension of its share repurchase program and the earmarking of 70% of the total amount for Oct and Nov 2023 could potentially boost investor confidence and positively impact the stock price in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, as it indicates that the company believes its shares are undervalued. The earmarking of a significant portion of the program for Oct and Nov 2023 could create a sense of urgency among investors to buy the stock, potentially driving up the price in the short term.
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IMPORTANCE 80
RELEVANCE 100