Wix.com Got Court Approval Of Repurchase Program To Repurchase Up To $300M Of Co's Ordinary Shares And/Or Convertible Notes Until July 30, 2024
Portfolio Pulse from Benzinga Newsdesk
Wix.com has received court approval for a repurchase program, allowing the company to buy back up to $300 million of its ordinary shares and/or convertible notes until July 30, 2024, according to an SEC filing.
December 18, 2023 | 7:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Wix.com's court-approved repurchase program may lead to a reduction in the number of shares outstanding, potentially increasing earnings per share and shareholder value in the short term.
Stock repurchase programs are typically viewed positively by the market as they can indicate that a company believes its stock is undervalued and that it is confident in its financial position. The repurchase of shares can also lead to a higher EPS due to a lower share count, which can be attractive to investors. However, the actual impact on the stock price will depend on investor perception, market conditions, and the execution of the buyback program.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100