Shares of Weibo Corp. rose 1.1% in premarket trading Thursday, after the China-based social media company announced a $500 million American depositary share repurchase program. The program, which will expire on March 31, 2023, represents 8.3% of Weibo's market capitalization of $6.04 billion as of Wednesday's stock closing price of $24.68. The company said it will fund the program with existing cash on hand. The stock has tumbled 20.
... Shares of Weibo Corp. WB rose 1.1% in premarket trading Thursday, after the China-based social media company announced a $500 million American depositary share repurchase program. The program, which will expire on March 31, 2023, represents 8.3% of Weibo's market capitalization of $6.04 billion as of Wednesday's stock closing price of $24.68. The company said it will fund the program with existing cash on hand. The stock has tumbled 20.
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