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.

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