Will STNE Stock Aid From the New $2B Share Repurchase Program?

StoneCo Ltd. (STNE) recently revealed that its board of directors has approved a new share repurchase program. The program has no fixed expiration date, and R$ 2 billion shares are authorized for buyback. This demonstrates StoneCo’s commitment to effectively utilizing its financial resources.This new program replaces the previously announced stock repurchase program, through which StoneCo successfully purchased 13.2 million shares, with an average of $13.52 each, for a total sum of $178.3 million. The compl ...