OBOOK (NASDAQ:OWLS) Stock Price Up 9.8% – Here’s What Happened

OBOOK Holdings Inc. (NASDAQ:OWLS)’s stock price rose 9.8% on Monday . The company traded as high as $6.62 and last traded at $6.62. Approximately 4,266 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 157,688 shares. The stock had previously closed at $6.03.

Wall Street Analysts Forecast Growth

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

OBOOK Stock Performance

OBOOK declared that its board has approved a stock repurchase program on Thursday, November 27th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

OBOOK Company Profile

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. Established in 2010 in Taiwan, we operate as the OwlTing Group and have delivered solutions to various industries and are expanding actively into multiple markets including the United States, Japan, Singapore, Hong Kong, Malaysia and Thailand, as well as jurisdictions in South America and the EU.