Why Smart Share Global Stock Charged Higher Today
Shares of Smart Share Global (NASDAQ: EM) soared higher Wednesday, surging by as much as 69.7% before giving back some of its gains. The stock ended the trading day up 36.2%.
The consumer tech company, which provides mobile-device charging services, announced a substantial stock buyback plan, and that got investors all charged up.
In a press release that dropped after Tuesday's market close, Smart Share announced that its board of directors had approved a share repurchase plan for as much as $50 million over the coming 12 months.
Source Fool.com
