LiveOne Increases Its Share Repurchase Program From $5M To $7.5M; Enters Into Non-Binding LOI For A New $12.5M Credit Line
Portfolio Pulse from Benzinga Newsdesk
LiveOne (NASDAQ:LVO) has increased its stock repurchase program from $5M to $7.5M and entered into a non-binding Letter of Intent for a new $12.5M credit line. The company has repurchased 2.9 million shares since the start of its buyback program in April 2022. The new credit line and stock buyback are aimed at pursuing major acquisitions, strengthening the balance sheet, and fueling internal growth.
July 14, 2023 | 12:45 pm
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LiveOne's increase in its stock repurchase program and plans for a new credit line indicate a strong financial position and confidence in its stock. This could potentially lead to a short-term increase in stock price.
Stock repurchase programs are often seen as a sign of a company's confidence in its own stock, as it believes the stock is undervalued. This, combined with the new credit line, indicates that LiveOne is in a strong financial position and is planning for growth and acquisitions, which could make the stock more attractive to investors and potentially drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100