Share repurchase programs often lead to an increase in stock price as they can indicate a company's belief in its own undervalued shares and reduce the number of shares outstanding, potentially increasing earnings per share. Given Soho House's announcement of a $50M share repurchase authorization, this could be seen as a strong vote of confidence from the company in its financial health and future prospects. This action might attract more investors and could lead to a short-term increase in the stock price.