XP Plans Repurchase Of Up To The Amount In Dollars Equivalent To R$1.0B Of Its Outstanding Class A Common Shares
Portfolio Pulse from Benzinga Newsdesk
XP Inc. has announced a repurchase plan for up to the amount in dollars equivalent to R$1.0 billion of its outstanding Class A common shares.
May 23, 2024 | 10:07 am
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XP Inc. has announced a repurchase plan for up to the amount in dollars equivalent to R$1.0 billion of its outstanding Class A common shares. This move is likely to positively impact the stock price in the short term as buybacks generally reduce the number of shares outstanding, potentially increasing the value of remaining shares.
Stock repurchase plans typically signal that the company believes its shares are undervalued, which can boost investor confidence and lead to a short-term increase in stock price. The reduction in the number of shares outstanding can also improve earnings per share (EPS).
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