Market Activity
Vipshop Holdings Ltd. (VIPS) Stock on a Precipitous Rise in Premarket, Here’s Why
Vipshop Holdings Ltd. (VIPS), an online discount retailer for various brands, closed Wednesday’s regular trading session at $9.21 after declining 3.96% during the day. In the premarket trading session, VIPS stock has soared by 7.60% and consequently was trading at $9.91 at the last check. The eminent performance in premarket is attributed to the share repurchase program announcement. Authorization of Share Repurchase Program Hours ago, VIPS has announced that its Board of Directors has authorized the share repurchase program. Under the program, the company could repurchase $1 billion of the Class A ordinary shares over the next 24 months. The company
