OBOOK (NASDAQ:OWLS) Shares Down 7.8% – What’s Next?

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

Analysts Set New Price Targets

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

OBOOK Price Performance

OBOOK announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 27th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.