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A record $319b of share buybacks have been authorized this year, according to Goldman Sachs data, with a rising number of companies using “accelerated” deals to buy volumes as quickly as possible while their share prices are depressed. There were $267b in share buybacks at the same point in 2021.
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“The breadth of different industry groups buying stock is the highest we’ve seen in a few years, and volumes have increased,” said Michael Voris, Goldman Sachs’ head of structured equity. “That’s much more due to the market backdrop as opposed to anything else.”
https://www.ft.com/content/e27975fc-a4f6-4e71-9ac8-af8a2418caca
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