Nvidia Unleashes Record $235 Billion Buyback Plan
Nvidia's stock price surged on September 28 after the company announced its largest-ever buyback plan, raising its authorization to $235 billion. The board of directors approved an additional $150 billion for share repurchases, making it the single-largest stock buyback authorization in U.S. corporate history.
This move aims to reduce outstanding shares and provide potential buying power during market pullbacks. However, Nvidia will determine the actual pace of buybacks based on market conditions, working capital requirements, and other investment opportunities.
The stock price has repeatedly tested the $230 level but failed to hold above it effectively. Analysts predict that if Nvidia can break through this resistance, it may challenge its all-time high of $236.54 and potentially reach a target range of $300-$320.