Klaviyo, Inc. (KVYO) stock price rises significantly, up by 7.4%

This surge is attributed to the company's announcement of a stock repurchase plan totaling $500 millions, which includes a $100 millions accelerated stock repurchase arrangement. This move sends a strong signal to the market regarding the management's confidence in the company's future prospects and intrinsic value, while also demonstrating its clear intention to enhance shareholder value through capital returns.