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Investor's Business Daily

Investor's Business Daily

Uber stock jumps after the ride-hail giant announces accelerated share buyback

Investor's Business Daily
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78% Informative

Uber announced an accelerated share repurchase agreement with Bank of America .

The ride-hail and food-delivery giant will buy $1.5 billion shares of Uber common stock.

Uber expects initial delivery of 18.6 million shares, or around 80% of the total covered under the deal.

Uber's market capitalization was $136 billion entering trading Monday .