- LQR House (LQR) stock is gaining on a stock repurchase announcement.
- The company is repurchasing up to $2 million shares of its stock.
- It also announced a new partnership.
LQR House (NASDAQ:LQR) stock is taking off on Monday after the digital marketing and brand development company announced a stock repurchase program.
LQR House’s board of directors has approved a share repurchase program for up to $2 million worth of LQR stock. These stock repurchases will be made through “open market purchases, privately negotiated transactions, or other methods.”
LQR House notes that the stock repurchase program is not a binding agreement. It also mentions that repurchases will take place based on a few factors. Among these are available liquidity, cash flows, market conditions, as well as corporate and regulatory limitations.
Sean Dollinger, CEO of LQR House, said this about the share repurchase news:
“The current capital market conditions allow us to capture additional value for all shareholders through this measured buyback program. Our Board of Directors and executive management team remain committed to delivering value to our shareholders.”
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