According to a report by Seeking Alpha on January 22, the board of directors of Ispire Technology (stock code: ISPR) has approved a stock buyback plan. Under the plan, the company will repurchase up to $10 million worth of common stock over the next 24 months. Following the announcement, ISPR stock price rose 4.5% in pre-market trading on Wednesday.
In the current capital market environment, stock buybacks can decrease the number of outstanding shares, boost earnings per share, and potentially lift the company's stock price.
Share buybacks are often seen as a capital allocation strategy for companies, helping to optimize shareholder returns. This important decision by Ispire Technology reveals the management's operating outlook and financial planning for the next two years.
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