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Sea Limited (NYSE:SE) shares are trending higher on Monday following news that its board of directors approved a $1 billion stock buyback program.
What Happened: Sea announced that its board authorized a share repurchase plan that allows the company to repurchase up to $1 billion of its American depositary shares (ADS). Each ADS represents one Class A ordinary share.
Sea said the buyback initiative reflects confidence in the company’s long-term goals and allows the company to opportunistically repurchase shares. Repurchases may be made in the open market or through privately negotiated transactions, block trades, derivative transactions and trading plans.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Sea’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
SE Price Action: Sea shares were up 3.90% at $146.34 at the time of publication on Monday, according to Benzinga Pro. However, they're still trading 26.3% below the 52-week high. Monday’s trading range is between $143.69 and $148.08.
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Posted In: SE
