Shopify Expands Buyback in Bid to Signal Undervalued Stock -- Market Talk
Dow Jones
Jun 03
1034 ET - By expanding share repurchase program, Shopify is trying to convey to the markets that its stock is undervalued, says Arjun Bhatia of William Blair. Late Tuesday, Shopify boosted its buyback target by $3 billion, bringing its total to $5 billion. So far, the company has repurchased about $1.5 billion in shares. Bhatia says the move follows a broader trend in software where companies expand their buyback programs to send signals to the market "that their stocks are undervalued as negative sentiment has weighed on the space (with still positive fundamentals)." Shares in Toronto are trading 3.1% lower at C$156.94. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
June 03, 2026 10:34 ET (14:34 GMT)
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