OBOOK (NASDAQ:OWLS) Trading Down 5.2% – Here’s What Happened

OBOOK Holdings Inc. (NASDAQ:OWLS)’s stock price traded down 5.2% on Tuesday . The stock traded as low as $6.17 and last traded at $6.24. 25,109 shares traded hands during trading, a decline of 83% from the average session volume of 148,405 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

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

OBOOK Trading Down 6.5%

The business’s 50-day moving average is $7.76.

OBOOK announced that its Board of Directors has approved a share buyback plan on Thursday, November 27th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.