VivoPower shares are trading higher after the company declared a capital management strategy including a stock buyback program of up to $5 million.
Portfolio Pulse from Benzinga Newsdesk
VivoPower International PLC announced a capital management strategy that includes a stock buyback program of up to $5 million, causing its shares to trade higher.
April 03, 2024 | 1:37 pm
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VivoPower International PLC's announcement of a stock buyback program of up to $5 million has led to an increase in its share price.
Stock buyback programs are generally viewed positively by the market as they often lead to a reduction in the number of shares outstanding, potentially increasing the value of remaining shares. This announcement by VivoPower is likely to create a bullish sentiment among investors in the short term, driving up the stock price.
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