Viomi Technology Extended its $10M Share Repurchase Plan For 12 Months
Portfolio Pulse from Charles Gross
Viomi Technology Co., Ltd (NASDAQ:VIOT), a leading IoT @ Home technology company in China, has extended its existing share repurchase plan for another 12 months. The company may repurchase up to US$10 million worth of its American Depositary Shares (ADSs) from October 25, 2022, to October 24, 2024. The company has already purchased approximately US$415,289 worth of its ADSs in the open market under this plan.
October 23, 2023 | 9:31 am
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POSITIVE IMPACT
Viomi Technology's extension of its share repurchase plan may lead to a positive impact on its stock price as it shows the company's confidence in its own value.
Share repurchase plans are often seen as a sign of a company's confidence in its own stock. By buying back shares, the company is effectively investing in itself, which can be a positive signal to investors. This could lead to increased demand for the stock, potentially driving up the price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100