Fiverr shares are trading higher after the company's board authorized a $100 million share repurchase program.
Portfolio Pulse from Benzinga Newsdesk
Fiverr's board has authorized a $100 million share repurchase program, leading to an increase in its stock price.
April 11, 2024 | 12:39 pm
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POSITIVE IMPACT
Fiverr's stock price is expected to rise in the short term due to the announcement of a $100 million share repurchase program.
Share repurchase programs often lead to an increase in stock price as they reduce the number of shares available in the market, potentially increasing earnings per share (EPS) and signaling the company's confidence in its own financial health. Given Fiverr's decision to initiate a $100 million buyback, this is likely to be viewed positively by investors, driving up demand and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100