British American Tobacco (BAT) executed a share buyback program January 27, purchasing 129,541 ordinary shares at an average price of £29.951908 per share. According to TipRanks, this move, authorized by shareholders, “is part of its broader strategy to enhance shareholder value by reducing the number of shares in circulation, which could potentially impact the company’s stock value and stakeholder interests.”
Later in the day, the stock rallied to £31.50 on what proved to be an all-around great trading session for the stock market, with the FTSE 100 Index. According to MarketWatch, that price was a 52-week high for BAT, surpassing the £30.47 from January 24.
