Shares of Arctic Cat Inc. (NASDAQ: ACAT) saw a huge
rally in trading on Wednesday after the company announced cash buyback of 6.1
million Class B shares from Suzuki Motor Corporation for a purchase price of
$79.3 million. The company will purchase the shares with existing cash on its
balance sheet.
Arctic Cat shares rose more than 21% on Wednesday on
above average volume. The rally pushed Arctic Cat shares above their 50-day and
200-day moving averages.
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