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Amazon Shares Bounce on News of $5 Billion Buyback

Shares had retreated 28 percent from a recent high in late December.

Lisa Werner / Moment Mobile via Getty

Amazon.com said Wednesday it may buy back up to $5 billion in stock over the coming years.

Shares rose more than 2 percent in after-hours trading on the news. The company said the program does not have a set expiration time.

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This article originally appeared on Recode.net.

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