Wix.com (WIX) Stock: Why The Price Increased Today

By Amit Chowdhry ● Mar 24, 2022
  • The stock price of Wix.com Ltd (NASDAQ: WIX) increased by over 4% during intraday trading. This is why.

The stock price of Wix.com Ltd (NASDAQ: WIX) increased by over 4% during intraday trading. Investors are responding positively to Wix announcing that its board authorized a program to repurchase up to $500 million of its securities from time to time. And Wix plans to file a motion seeking court approval in Israel for its repurchase program, which is subject to receipt of court approval.

Under the repurchase program, the repurchases can be made from time to time using a variety of methods, including open market purchases, all in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. And the repurchase program does not obligate Wix to acquire any particular amount of securities and the repurchase program may be suspended or discontinued at any time at Wix’s discretion.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.