Mercurity Fintech (NASDAQ:MFH - Get Free Report) announced that its board has approved a stock repurchase program on Tuesday, July 22nd, RTT News reports. The company plans to repurchase $10.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Mercurity Fintech Trading Up 52.7%
Shares of NASDAQ:MFH traded up $1.06 during midday trading on Thursday, hitting $3.07. The company had a trading volume of 13,353,729 shares, compared to its average volume of 370,405. Mercurity Fintech has a 12-month low of $1.03 and a 12-month high of $8.86. The company has a fifty day moving average of $4.03 and a two-hundred day moving average of $5.46.
About Mercurity Fintech
(
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Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals.
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