Wix (WIX) Stock Trades Up, Here Is Why

What Happened?

Shares of website building platform Wix (NASDAQ:WIX) jumped 6.5% in the afternoon session after the company announced that its board of directors approved a new share repurchase program of up to $2 billion. The authorization covered a two-year period spanning fiscal years 2026 and 2027, allowing the company to buy back its ordinary shares and/or convertible notes. The company said the program was supported by strong cash generation from operations. This significant buyback plan signaled the board's confidence in Wix's ability to generate strong cash flow and its commitment to boosting shareholder value.

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What Is The Market Telling Us

Wix’s shares are very volatile and have had 25 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 5 days ago when the stock gained 4.4% on the news that the company announced the launch of Wix Harmony, described as a world-first AI website builder. The new platform combines Wix's web development tools with artificial intelligence to offer a "faster, most powerful way" to create a website. The company's CEO, Avishai Abrahami, stated an ambition for 50% of new internet sites to be built on Wix within the next five to seven years.

Wix is down 7% since the beginning of the year, and at $93.94 per share, it is trading 61.9% below its 52-week high of $246.76 from January 2025. Investors who bought $1,000 worth of Wix’s shares 5 years ago would now be looking at an investment worth $378.44.

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