Wetouch Technologies (WETH) has unveiled a stock buyback initiative, aiming to repurchase up to $15 million worth of its common stock. The company has stated that this move demonstrates its trust in the robust and expanding business of Wetouch.
Zongyi Lian, CEO of Wetouch Technologies, commented: "With over $90 million in cash and almost $8 per share in cash, while our market capitalization remains under $30 million, we believe our stock is significantly undervalued. This buyback program presents a compelling opportunity to return value to our shareholders."
