LQR House Repurchases 3.05M Shares in Ongoing Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
LQR House Inc. (NASDAQ:LQR) has been actively repurchasing shares as part of its Share Buyback Program. The company bought back shares on three separate occasions at record-low prices, adhering to Rule 10b-18 guidelines. On November 21, 237,700 shares were acquired at $0.04813 each, on November 27, 2,000,000 shares at $0.030979 each, and on November 28, 813,022 shares at $0.0279 each, demonstrating the company's commitment to the program.
November 29, 2023 | 12:35 pm
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LQR House Inc. has repurchased a total of 3.05 million shares at record-low prices as part of its ongoing Share Buyback Program, signaling confidence in the company's value and a commitment to shareholder returns.
Share buybacks often signal a company's belief that its stock is undervalued and can lead to an increase in the stock price in the short term due to the reduction in the number of shares outstanding and the positive signal it sends to the market. Given the record-low prices at which LQR House repurchased shares, this could be perceived as a strong vote of confidence by the company in its own stock, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100