Sohu.Com Board Authorized Increase In Previously-Announced Share Repurchase From Up To $80M To Up To $150M Of Outstanding ADSs
Portfolio Pulse from Charles Gross
The board of Sohu.Com has authorized an increase in its previously announced share repurchase program, raising the limit from up to $80 million to up to $150 million of its outstanding American Depositary Shares (ADSs).
March 04, 2024 | 11:59 am
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Sohu.Com's board has expanded its share repurchase program from $80 million to $150 million, indicating a strong confidence in the company's value.
Increasing a share repurchase program typically signals a company's belief that its stock is undervalued, which can lead to increased investor confidence and potentially drive up the stock price in the short term. Given the significant increase from $80 million to $150 million, this move by Sohu.Com's board is a strong indicator of their confidence in the company's financial health and future prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100