LiveOne Joined Russell 2000 Index And Retires 4.2M Open Market Shares
Portfolio Pulse from Benzinga Newsdesk
LiveOne (NASDAQ:LVO) has joined the Russell 2000 Index and retired 4.2 million open market shares, reducing its total outstanding shares to 94.7 million. The company also registered 1.3 million warrants at $2.10 and plans to buy back $5 million worth of its shares.
July 08, 2024 | 12:12 pm
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LiveOne has joined the Russell 2000 Index, retired 4.2 million shares, and plans a $5 million share buyback. These actions are likely to positively impact the stock price in the short term.
Joining the Russell 2000 Index increases visibility and potential institutional investment. Retiring shares reduces supply, potentially increasing share value. The planned $5M buyback signals confidence in the company's future, likely boosting investor sentiment.
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