OBOOK (NASDAQ:OWLS) Stock Price Up 7.3% – Here’s Why

OBOOK Holdings Inc. (NASDAQ:OWLS)’s share price shot up 7.3% during mid-day trading on Thursday . The company traded as high as $8.37 and last traded at $8.37. 54,226 shares traded hands during trading, a decline of 69% from the average session volume of 172,800 shares. The stock had previously closed at $7.80.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of OBOOK to a “hold” rating in a research report on Wednesday, October 29th.

OBOOK Trading Up 3.7%

OBOOK declared that its Board of Directors has initiated a share buyback plan on Thursday, November 27th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

OBOOK Company Profile

Our mission is to use blockchain technology to provide businesses with more reliable and transparent data management, to reinvent global flow of funds for businesses and consumers and to lead the digital transformation of business operations. We believe in the power of blockchain technology and have focused on leveraging it to optimize and in some cases transform the way enterprises operate.