(24/7 MARKET NEWS) Moving iMage Technologies (NYSE: MITQ) Board of Directors authorizes a $1 million share repurchase program, which permits Moving iMage to purchase up to an aggregate of $1 million of common stock over the next 12 months.
“Since coming public last July, our financial performance and fundamentals have steadily improved, while our stock price has not reflected this performance,”said Phil Rafnson, chief executive officer.
The digital cinema technology company popped to $1.73 on the news and is at $1.63, up $0.55 (+50.93%), on 3,814,775 shares, but it looks like it may drift down.
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