DocGo Inc. (DCGO), a provider of technology-enabled mobile health services, Wednesday announced that it has approved a share repurchase program where the company may purchase up to $36 million of its common stock.
Lee Bienstock, CEO of DocGo said it remains confident about the company's future potential. "We believe the recent decline in our share price is not reflective of the value of our Company or our stock," he added.
The duration of the program is for six months ending July 30.
Following this news, shares of the company are trading up around 4 percent in pre-market activity.
As per the company, the approved amount represents around 10 percent of DocGo's outstanding shares based on the share price at the time of authorization of this program.
The previous buyback program of the company expired on November 24, 2023.
In pre-market activity, DocGo shares are trading at $3.53 up 3.51% on the Nasdaq.
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