Monster Beverage Announces Share Repurchase Program
Monster Beverage Corporation (MNST) announced on May 30 that the company’s Board of Directors authorized a new share repurchase program. The company used the entire $250 million repurchase authorization it previously received from the Board of Directors. The new share repurchase program allows the management to purchase up to $500 million of the company’s outstanding common stock.
Sonal detected the event and issued an alert at 8:00 am. The next trade took place at 9:21 am for $49.81. The market opened for regular market trading at $49.93. Monster closed higher on the day of the event at $51.96 and continued to move higher over the next five trading days. Monster Beverage closed at $53.20 on June 6, which makes a gain of 6.8% for investors trading on the event news.
Visit the Knowledge Center to learn more about trading share repurchases and buybacks.
To see the latest weekly webinar, you can visit our Live Webinar page.
Subscribe here if you would like to start receiving these signals in real-time and start trading!