OBOOK (NASDAQ:OWLS) Stock Price Down 7.8% – Should You Sell?

OBOOK Holdings Inc. (NASDAQ:OWLS) shares dropped 7.8% on Monday . The stock traded as low as $7.30 and last traded at $7.30. Approximately 14,513 shares traded hands during trading, a decline of 91% from the average daily volume of 166,398 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded OBOOK to a “hold” rating in a research report on Wednesday, October 29th.

OBOOK Stock Performance

OBOOK announced that its Board of Directors has initiated a share repurchase program on Thursday, November 27th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About OBOOK

Our mission is to use blockchain technology to provide businesses with more reliable and transparent data management, to reinvent global flow of funds for businesses and consumers and to lead the digital transformation of business operations. We believe in the power of blockchain technology and have focused on leveraging it to optimize and in some cases transform the way enterprises operate.