High-Yielding Utility Stock Soars on $5 Billion Share-Repurchase Plan
Shares of Vistra Corp. (NYSE: VST) jumped on Wednesday, rallying 10.4% as of 2:50 p.m. EDT. Utility stocks rarely make such big moves as they're typically slow-moving, steady businesses, so there's clearly something big brewing in Vistra.
Two developments lit a fire under Vistra shares.
First, the company announced a share-repurchase program worth $2 billion on Oct. 12 and expects to start buying back shares in November through 2022.
Source Fool.com
