Wise Group stock jumps 5% after unveiling $500M stock buyback program

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Wise Group ( WSE ) stock surged 5.4% in Thursday after-hours trading after the fintech said it plans a new share repurchase program that it expects to exceed $500M. About 40% of the buyback program is expected to be allocated to its recurring

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Wise Group (WSE) shares jumped 5.4% in after-hours trading after the company announced a new share buyback program expected to exceed $500M. The company said it will allocate about 40% to its recurring business, emphasizing the stability of cash flows. A large buyback is likely to have a positive short-term impact on the stock and valuation by improving EPS and ROE and signaling shareholder returns. However, concerns about reduced growth investment and R&D remain, so investors are likely to be divided between the short-term boost and long-term growth risks.

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