PLAYSTUDIOS Expects Repurchase From Microsoft To Reduce Number Of Shares Of Its Outstanding Common Stock By ~8.6%
Portfolio Pulse from Benzinga Newsdesk
PLAYSTUDIOS expects a repurchase from Microsoft to reduce the number of shares of its outstanding common stock by approximately 8.6%.
June 11, 2024 | 8:54 pm
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POSITIVE IMPACT
PLAYSTUDIOS expects a repurchase from Microsoft to reduce its outstanding common stock by approximately 8.6%, which could positively impact the stock price due to the reduced share count.
The reduction in the number of outstanding shares typically leads to an increase in the stock price due to the higher earnings per share (EPS) and reduced supply of shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Microsoft's repurchase of PLAYSTUDIOS shares is expected to reduce PLAYSTUDIOS' outstanding common stock by approximately 8.6%.
While the repurchase affects PLAYSTUDIOS significantly, the impact on Microsoft's stock is likely neutral as it is a large company and this transaction is relatively small in scale.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50