KANZHUN shares are trading higher after the company announced it authorized an additional repurchase of $150 million of its shares in conjunction with its existing $200 million buyback.
Portfolio Pulse from Benzinga Newsdesk
KANZHUN shares rose following the announcement of an additional $150 million share repurchase authorization, adding to its existing $200 million buyback plan.
August 29, 2024 | 12:37 pm
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KANZHUN's stock price increased after the company announced an additional $150 million share repurchase, enhancing its existing $200 million buyback plan.
The announcement of a share buyback typically signals management's confidence in the company's future prospects and can lead to a short-term increase in stock price due to reduced supply and increased demand. The additional $150 million buyback adds to the existing $200 million plan, further boosting investor sentiment.
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IMPORTANCE 80
RELEVANCE 100