WM Plans To Repurchase Up To $1.5B Of Common Stock, Superseding Authority Remaining Under Prior $1.5B Authorization Announced In 2022
Portfolio Pulse from Benzinga Newsdesk
Waste Management (WM) has announced plans to repurchase up to $1.5 billion of its common stock, replacing the remaining authority under its previous $1.5 billion authorization from 2022.
December 11, 2023 | 10:41 pm
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Waste Management's new $1.5 billion stock repurchase plan may signal confidence by management in the company's financial health and future prospects, potentially leading to a positive short-term impact on the stock price.
Stock repurchase programs are often viewed positively by the market as they can indicate that the company believes its stock is undervalued and that it has sufficient cash on hand. This can lead to an increase in the stock price in the short term due to the reduced supply of shares and the signal of confidence it sends to investors.
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