Eightco Holdings announces $125 million share buyback program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 31 2022
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Should l Buy ORBS?
Source: globenewswire
Eightco Holdings Inc's stock surged by 26.37% in pre-market trading, crossing above the 20-day SMA, reflecting strong investor interest.
This price movement is attributed to the company's announcement of a share buyback program of up to $125 million, aimed at enhancing shareholder value and boosting market confidence. The management's strong belief in the company's future growth potential is evident, especially as they prepare to showcase their innovations at CES in Las Vegas, which could attract new investors and strengthen partnerships.
The implications of this buyback program suggest a commitment to returning value to shareholders, while also positioning Eightco favorably in the competitive digital asset market, particularly as they advance their strategic initiatives in AI and digital identity.
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Analyst Views on ORBS
About ORBS
Eightco Holdings Inc., through its subsidiary, Forever 8 Fund, LLC, operates as an inventory capital and management platform for e-commerce sellers. Forever 8 Fund, LLC (Forever 8) is an e-commerce fintech company that provides funding solutions for e-commerce businesses. Forever 8 provides funding solutions for e-commerce businesses, which sell on Amazon, Shopify and other online platforms. Forever 8 uses proprietary technology to review product sales data and determine funding potential for online retail entrepreneurs around the world. In addition, the Company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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