Why Full Truck Alliance Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
Full Truck Alliance Co. Ltd. (NYSE:YMM) shares rose in premarket trading after announcing an extension of its share repurchase program and declaring an annual cash dividend. The company plans to repurchase up to $300 million of its shares through March 12, 2025, and declared a dividend of $0.0072 per ordinary share, payable in April 2024. Full Truck Alliance also forecasts a revenue growth of 23.9% to 27.1% year-over-year for the upcoming quarter and aims to expand its user base and enhance its services.
March 13, 2024 | 12:46 pm
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Full Truck Alliance announces share repurchase extension and annual cash dividend, forecasting significant revenue growth.
The announcement of a share repurchase program extension and a cash dividend declaration typically signals a company's confidence in its financial health and future prospects, which can positively influence investor sentiment and stock price. Additionally, the forecasted significant revenue growth indicates a strong business outlook, further supporting a positive short-term impact on YMM's stock price.
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