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Richtech Robotics Inc. (NASDAQ:RR) ("Richtech Robotics" or "the Company"), a Nevada-based provider of AI-driven service robots, announces that its board of directors has approved a stock repurchase
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Shares of Richtech Robotics are climbing Tuesday afternoon on heavy trading volume after the company announced a stock repurchase program.
Read original at benzingaRichtech Robotics stock surged 17% after announcing a $12 million share buyback program. Despite being down 35% year-to-date, the Las Vegas-based robotics startup is betting on itself with this repurchase. The company, which manufactures restaurant and bartending robots, remains unprofitable with single-digit million revenues but holds nearly $400 million in market cap with substantial cash reserves. Wall Street remains skeptical with only one analyst covering the stock with a 'hold' rating.
Read original at the-motley-foolNasdaq: NYAX rose 13.9% on Tuesday after announcing acquisition of IPS Group Inc. for $350 million. Other big gainers include CAPR, RZLV, CRML, and MAIR.
Read original at benzinga