OBOOK (NASDAQ:OWLS) Shares Gap Up – Here’s Why

OBOOK Holdings Inc. (NASDAQ:OWLS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $6.07, but opened at $6.23. OBOOK shares last traded at $6.15, with a volume of 6,967 shares traded.

Wall Street Analyst Weigh In

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

OBOOK Stock Down 0.3%

The firm has a 50 day moving average price of $7.72.

OBOOK announced that its Board of Directors has approved a share repurchase program on Thursday, November 27th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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. Established in 2010 in Taiwan, we operate as the OwlTing Group and have delivered solutions to various industries and are expanding actively into multiple markets including the United States, Japan, Singapore, Hong Kong, Malaysia and Thailand, as well as jurisdictions in South America and the EU.