BitGo Authorizes $50 Million Buyback as Shares Rally

BitGo Holdings shares climbed 13% to $6.16 on Wednesday following the company's announcement of a $50 million stock buyback program. The move, which targets roughly 8% of outstanding shares, arrives as the company attempts to recover from a 67% decline in its stock value over the course of this year.

Today, 18:56· Money Talk· 1,093 reads

BitGo Authorizes $50 Million Buyback as Shares Rally

The buyback authorization is effective immediately and carries no expiration date. According to the company, the board initiated the program based on the conviction that the current market price fails to reflect the underlying value of the digital asset infrastructure business.

Chief Financial Officer Ed Reginelli stated that the program signals confidence in the firm’s long-term trajectory. He added that the board views the repurchases as an efficient use of capital that will not impede the company’s ability to continue investing in its platform and client services.

BitGo Authorizes $50 Million Buyback as Shares Rally

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