STEALTHGAS Announces $10M Increase To Its Existing Common Stock Repurchase Program For Total Aggregate Amount Of $25M
Portfolio Pulse from Benzinga Newsdesk
STEALTHGAS has announced a $10M increase to its existing common stock repurchase program, bringing the total aggregate amount to $25M.
October 26, 2023 | 9:36 pm
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POSITIVE IMPACT
STEALTHGAS's decision to increase its stock repurchase program by $10M could potentially boost its stock price in the short term.
Stock repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, STEALTHGAS is reducing the number of shares available in the market, which could lead to an increase in the stock price due to the laws of supply and demand. This could potentially make the stock more attractive to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100