Monster Beverage Board Authorizes New $500M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Monster Beverage Corporation (NASDAQ:MNST) has announced a new share repurchase program, authorizing the repurchase of up to an additional $500 million of the company's outstanding common stock. This is in addition to the approximately $282.8 million remaining from the company's previously authorized repurchase program.
November 08, 2023 | 10:27 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Monster Beverage's new share repurchase program could potentially increase the company's stock price in the short term as it indicates the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, Monster Beverage is reducing the number of shares available in the market, which could potentially increase the price of its stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100