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Instacart Stock Jumps on More Buyback News. Why Investors Are Bullish.
Shares of Instacart parent Maplebear jumped 9% on Thursday as investors cheered on news of more buybacks from the grocery delivery firm. Instacart’s board approved another $500 million new share repurchase program on June 2, according to a regulatory filing on Thursday. Buybacks are usually a sign of management’s optimism in the company’s growth potential