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Wix plans to file a motion seeking court approval in Israel for its repurchase program.
Based on the current price of about $95 per share, the company could repurchase about 5.26 million shares or 9.2% of the outstanding shares with the approval.
Today, the company also announced it would host Virtual Analyst & Investor Day on May 19, expecting to provide a detailed overview of its key growth initiatives and present a three-year financial plan and long-term financial framework. The company will report its Q1 earnings on May 16.
By Davit Kirakosyan
