: Stitch Fix shares soar 12% after share buyback program announced #FinanceUSA #StockMarketNEWS Stitch Fix Inc. stock soared 12% in Thursday trading after the online personal styling service announced
@stockMarketNEWS Sun 09 Jan, 2022
Stitch Fix shares soar 12% after share buyback program announced #FinanceUSA #StockMarketNEWS
Stitch Fix Inc. stock soared 12% in Thursday trading after the online personal styling service announced a 0 million share buyback program. "This share repurchase program reflects the confidence we have in our strategy, unique value proposition and the growth potential ahead for Stitch Fix, which we believe is not reflected in the current market valuation," said Chief Executive Elizabeth Spaulding in a statement. Stitch Fix shares plunged last month after its fiscal first-quarter earnings announcement. The stock was downgraded and its price target slashed at multiple research groups. Stitch Fix stock has plunged more than 67% over the last year while the benchmark S&P 500 index has gained 25.6%.
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