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26.06.2022 18:12:21

Why the Nextdoor Stock Buyback is a Good Sign for Investors

Despite significantly cooling off from its SPAC IPO, Nextdoor (NYSE: KIND) might still be worth buying and could be a winner for patient investors. In this clip from "The Future of Fintech" on Motley Fool Live, recorded on June 16, Motley Fool contributor Matt Frankel discusses why he's bullish on Nextdoor's future given its leadership.Matt Frankel: I added into the one beaten-down stock that I still think it's worth buying right now, which is Nextdoor. I love Sarah Friar as a CEO. I think that they have a very cash rich balance sheet. They're trading for not much more than cash right now. They sold shares at $10 in their SPAC IPO. They're currently in the $3 range so what do they do? They take $100 million of their excess capital that they raised in the SPAC merger and they're buying all those shares back for $3 a piece that they sold for $10 big buy back. They just announced $100 million, I believe. I have tons of faith in her as a CEO. She is one of the biggest reasons I own the stock.Continue reading
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