Instacart disclosed that is board approved a share repurchase program with authorization to purchase up to an aggregate of $500M of the company’s common stock. At the time of the authorization on June 2, no capacity remained under the $1B share repurchase program previously authorized by the board in November 2023 and February 2024, which program resulted in the repurchase of approximately 34M shares, the company noted. The share repurchase program has no expiration date.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CART:
- Gordon Haskett upgrades Instacart on selloff, positive order data
- Instacart upgraded to Buy from Hold at Gordon Haskett
- Maplebear Inc put volume heavy and directionally bearish
- Instacart, Home Depot announce nationwide partnership to offer same-day delivery
- Instacart says does not expect to exceed GTV guidance