NVIDIA Shares Gain 3% After Board Authorized Additional $150 Bln Share Repurchase Program
(RTTNews) - Shares of NVIDIA Corporation (NVDA) are gaining about 3 percent on Monday morning after the company announced that its Board has authorized an additional $150 billion under the company's existing share repurchase program, increasing the total remaining amount authorized to $235 billion.
The company's shares are currently trading at $232.24 on the Nasdaq, up 3.18 percent. The stock opened at $229.70 and has climbed as high as $233.21 so far in today's session. Over the past year, it has traded in a range of $164.27 to $236.54.
The company added that the authorization reflects its confidence in the long-term opportunity ahead. It expects to execute the total remaining program through fiscal year 2028.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.