FX.co ★ Nisun Repurchase $15 Mln Of Shares, Stock Down Over 19%

Nisun International Enterprise Development Group Co. Ltd. (NISN) has announced that its Board has authorized a share buyback initiative of up to $15 million for its Class A shares over the upcoming 12 months. The company plans to finance this repurchase using its existing cash reserves and profits. According to the company, "The share repurchase program underscores Nisun International's confidence in its business prospects and anticipated long-term growth. By decreasing the overall number of outstanding shares, this program is expected to bolster shareholder value by improving earnings per share." On the Nasdaq, NISN's shares were trading at $15.49, down by 19.24 percent.