Chromocell Announces Amendment To Stock Repurchase Plan To Increase The Total Value Of Shares Of Common Stock Available For Repurchase Under The Repurchase Plan By An Additional $500,000, To $750,000
Portfolio Pulse from Benzinga Newsdesk
Chromocell Therapeutics Corporation (NYSE:CHRO) has amended its stock repurchase plan, increasing the total value of shares available for repurchase by $500,000 to $750,000. The termination date of the plan has been extended to June 30, 2025.
October 24, 2024 | 12:48 pm
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Chromocell has increased its stock repurchase plan by $500,000, bringing the total to $750,000, and extended the plan's termination date to June 30, 2025.
The increase in the stock repurchase plan suggests that Chromocell is confident in its financial position and believes its stock is undervalued. This action is likely to positively impact the stock price in the short term as it signals to investors that the company is investing in itself.
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