Why Monster Beverage Stock Surged over 5% on Wednesday
Monster Beverage (MNST) stock rose 5.4% to $51.96 on May 30 in reaction to the company’s announcement of its new share repurchase program. Monster Beverage’s board of directors has approved a new share repurchase program that authorizes the repurchase of up to $500 million of the company’s common stock. Monster Beverage exhausted its authorized limit of $250 million under its previous share repurchase program.