Why Dollar Tree Stock Surged Today
Shares of Dollar Tree (NASDAQ: DLTR) climbed on Wednesday after the retailer said it would boost its stock buyback program and add more higher-priced items to its stores.
As of 3:30 p.m. EDT, Dollar Tree's stock price was up more than 16%.
Dollar Tree's Board of Directors authorized an additional $1.05 billion in share repurchases. That places the total buyback amount at a whopping $2.5 billion, or about 10% of Dollar Tree's current market value.
Source Fool.com