Ollie's Bargain Outlet Holdings, Inc. (OLLI) saw its shares plummet 5.01% in pre-market trading on Wednesday, despite announcing a new $300 million share repurchase authorization. The significant drop comes as the company released its fourth quarter and fiscal 2024 financial results, which appear to have fallen short of investor expectations.

While the exact details of the financial results are not provided, the market's negative reaction suggests that Ollie's performance or guidance may have disappointed analysts and shareholders. The company also issued its outlook for 2025, projecting net sales between $2.564 billion and $2.586 billion, which investors might view as conservative or below previous forecasts.

The stark contrast between the new share buyback program—typically seen as a positive signal—and the stock's downward movement highlights the complexity of market reactions to earnings reports. It underscores the importance of meeting or exceeding Wall Street's expectations, even when companies implement shareholder-friendly policies like stock repurchases. As the trading day progresses, investors will be closely watching for any additional insights or analyst reactions to Ollie's financial disclosures.