The $150 Million Reason Asana (ASAN) Stock Is Surging Today
ASANAsana(ASAN) Investor Place·2024-06-22 03:24

Share buyback announcements are becoming commonplace, as many companies that have earned excess profits are looking for a place to invest their windfalls. For software company Asana (NYSE:ASAN), today’s announcement that the company will be buying back $150 million of its own stock has sent its share price surging. At the time of writing, ASAN stock is up about 15% on this news. The company’s board of directors has approved this stock repurchase program, which will run through the end of the month. Accordin ...