Guess? shares are trading higher after the company's board authorized a new $200 million share repurchase program.
Portfolio Pulse from Benzinga Newsdesk
Guess? Inc. has seen its shares trading higher following the announcement that its board has authorized a new $200 million share repurchase program. This move indicates the company's confidence in its financial health and future prospects, potentially signaling to investors that the stock is undervalued.
April 01, 2024 | 11:09 am
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Guess? Inc.'s new $200 million share repurchase program has led to an increase in its stock price, reflecting investor optimism and the company's confidence in its financial stability and growth prospects.
Share repurchase programs often lead to an increase in stock prices as they reduce the number of shares available in the market, potentially increasing earnings per share (EPS) and signaling company confidence to investors. Given the size of the buyback program, this is a significant move by Guess? Inc. that could positively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100