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Monster Beverage Announces New $500 Million Stock Buyback Plan

Published 06/14/2022, 01:38 PM
Updated 06/14/2022, 05:51 PM
© Reuters.  Monster Beverage (MNST) Announces New $500 Million Stock Buyback Plan

By Davit Kirakosyan

Monster Beverage Corporation (NASDAQ:MNST) announced that its Board of Directors has authorized a new share repurchase program of up to an additional $500 million of its common stock. The company has approximately $157.4 million worth of shares remaining available for repurchase as of June 14, 2022 under its previously authorized repurchase program.

The share repurchase announcement came ahead of the company's annual meeting, scheduled for today at 5:30PM EST. The move was widely expected by analysts given the company's rising cash hoard.

Shares of Monster Beverage rose 4% intra-day Tuesday into the event and related to news that rival Red Bull is raising prices by 7%.

Latest comments

one more confirmation what generates inflation. rising sales prices while profits are going through the roof nothing to do with government. wake up america and start understanding cause and effect.
Lol socialist
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