OBOOK (NASDAQ:OWLS) Trading Down 7.8% – Should You Sell?

OBOOK Holdings Inc. (NASDAQ:OWLS)’s stock price dropped 7.8% during mid-day trading on Monday . The stock traded as low as $7.30 and last traded at $7.30. Approximately 14,513 shares were traded during trading, a decline of 91% from the average daily volume of 166,398 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

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

OBOOK Trading Up 1.9%

OBOOK announced that its board has initiated a share repurchase program on Thursday, November 27th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About OBOOK

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.