GoDaddy stock bounces after announcing $250 million accelerated stock buyback program

Dow Jones2021-08-12

MW GoDaddy stock bounces after announcing $250 million accelerated stock buyback program

Shares of GoDaddy Inc. $(GDDY)$ bounced 1.6% in premarket trading Thursday, after the web hosting and domain-name registration company announced a $250 million accelerated stock repurchase $(ASR)$ agreement with Goldman Sachs. The program represents about 2.1% of GoDaddy's market capitalization of $11.95 billion at Wednesday's close. The company said its share repurchase program will have about $750 million remaining after the ASR is completed, representing about 6.3% of the GoDaddy's market cap. The company said following completion of the ASR, it will have repurchased more than 9% of its shares outstanding since January 2020. The stock, which closed at a 9-month low of $70.60 on Wednesday, has slumped 14.9% year to date while the S&P 500 has rallied 18.4%.

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Comments

  • xremy
    2021-08-13
    xremy
    Yeh.. Man.. DADDY, U can do it.. 
  • Jasperr
    2021-08-13
    Jasperr
    Good News for the share holder 
  • Shadotaiger
    2021-08-12
    Shadotaiger
    buybuy
  • rou
    2021-08-12
    rou
    wow
  • ALIBINHASSAN
    2021-08-12
    ALIBINHASSAN
    Go Daddy Do Daddy
  • EZU
    2021-08-12
    EZU
    [得意] 
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