Eightco Holdings Inc. (ORBS) shares rose 18.92 percent on the session, gaining $0.31 to trade at $1.98 on Monday, after the company announced authorization of a sizable share repurchase program.
Eightco said its board of directors approved a share buyback of up to $125 million, signaling confidence in the company's valuation and long-term strategy.
The stock last traded at $2.02, up from a previous close of $1.67, after opening at $1.90 on the Nasdaq. Shares moved within a day's range of $1.85 to $2.50. Trading volume surged to about 21.25 million shares, well above the average volume of roughly 3.47 million shares.
Eightco's 52-week trading range stands at $0.98 to $83.12, underscoring the stock's high volatility.
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