- The stock price of Camping World Holdings Inc (NYSE: CWH) increased by over 3.4% during intraday trading today. This is why it happened.
The stock price of Camping World Holdings Inc (NYSE: CWH) increased by over 3.4% during intraday trading today. Investors are responding positively to Camping World announcing that its Board of Directors has authorized an increase in its stock repurchase program after which $200 million remains available for the repurchase of the company’s Class A common stock.
The Board of Directors authorized an increase in the company’s $225 million stock repurchase program originally approved on October 30, 2020, to allow for the repurchase of an additional $152,708,900 of its Class A common stock, effective immediately, resulting in approximately $200 million remaining available for such repurchases. The Board of Directors also extended the expiration of the repurchase authorization to December 31, 2025.
The repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases to be determined at the company’s discretion, depending on market conditions and corporate needs. And open market repurchases will be structured to occur in accordance with applicable federal securities laws.
This program does not obligate the company to acquire any particular amount of Class A common stock and the program may be extended, modified, suspended, or discontinued at any time at the Board’s discretion. And the company expects to fund the repurchases using cash on hand.
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