SurgePays Commences Its Previously Authorized Stock Repurchase Program Of Up To $5M In Common Stock
Portfolio Pulse from Benzinga Newsdesk
SurgePays, Inc. (NASDAQ:SURG) has announced the commencement of its previously authorized stock repurchase program, allowing the company to buy back up to $5 million in its common stock.
August 22, 2024 | 12:31 pm
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POSITIVE IMPACT
SurgePays has initiated a stock repurchase program to buy back up to $5 million of its common stock, which could positively impact the stock price by reducing supply and signaling confidence in the company's value.
Stock repurchase programs often lead to a positive impact on stock prices as they reduce the number of shares available in the market, potentially increasing the value of remaining shares. It also signals management's confidence in the company's future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100