OBOOK (NASDAQ:OWLS) Hits New 52-Week Low – What’s Next?

Shares of OBOOK Holdings Inc. (NASDAQ:OWLS) hit a new 52-week low on Friday . The company traded as low as $6.79 and last traded at $6.79, with a volume of 38348 shares trading hands. The stock had previously closed at $6.84.

Wall Street Analysts Forecast Growth

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

OBOOK Price Performance

OBOOK declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 27th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are 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. 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.