Monster Beverage Announces New $500 Million Stock Buyback Plan By Investing.com

By Davit Kirakosyan

Monster Beverage Company (NASDAQ:) introduced that its Board of Administrators has licensed a brand new share repurchase program of as much as an extra $500 million of its frequent inventory. The corporate has roughly $157.4 million value of shares remaining accessible for repurchase as of June 14, 2022 below its beforehand licensed repurchase program.

The share repurchase announcement got here forward of the corporate’s annual assembly, scheduled for right now at 5:30PM EST. The transfer was extensively anticipated by analysts given the corporate’s rising money hoard.

Shares of Monster Beverage rose 4% intra-day Tuesday into the occasion and associated to information that rival Crimson Bull is elevating costs by 7%.