Marti Technologies' Authorized A Six Month Extension To Its Share Repurchase Program Under Which It May Repurchase Up To $2.5M Shares And Amended The Ceiling Price From $3.30 To Up To $5.00 Per Share For The Buyback
Portfolio Pulse from Benzinga Newsdesk
Marti Technologies has extended its share repurchase program for six months, allowing the repurchase of up to $2.5 million in shares. The ceiling price for the buyback has been amended from $3.30 to $5.00 per share.
October 09, 2024 | 10:05 am
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POSITIVE IMPACT
Marti Technologies has extended its share repurchase program, increasing the ceiling price for buybacks to $5.00 per share. This move could support the stock price by reducing supply and signaling confidence in the company's valuation.
The extension and increased ceiling price of the share repurchase program suggest that Marti Technologies is confident in its stock valuation. This could lead to a positive short-term impact on the stock price as buybacks reduce the number of shares available in the market, potentially increasing demand.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100