(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.
24/7 MARKET NEWS, INC Disclaimer
24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.
Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.