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Why Shares of OppFi Are Rising Today

TheMotleyFool

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Shares of fintech company OppFi (NYSE: OPFI) traded more than 15% higher as of 1:31 p.m. ET today for no obvious reason, but they have been surging ever since management announced a stock repurchase plan.

OppFi, which is a digital lender mainly to subprime borrowers, said last week that its board of directors has authorized a share repurchase program that could see the company buy back as much as $20 million of its stock between now and December 2023.

Image source: Getty Images.

Source Fool.com

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