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Investing.com -- Gamehaus Holdings Inc. (NASDAQ:GMHS) stock surged 93% following the company’s announcement of a $5 million share repurchase program authorized by its Board of Directors.
The technology-driven mobile game publisher said the repurchase program is effective immediately and will run through August 28, 2026. The company plans to fund the buybacks using its existing cash balance and cash generated from operations.
Under the program, Gamehaus may repurchase shares through open market transactions, privately negotiated deals, block trades, or other legally permissible means, potentially including trading plans that qualify under Rule 10b-18 of the Securities Exchange Act of 1934.
"Authorizing this share repurchase program reflects our balanced approach to capital allocation, investing in long-term growth while also returning value to shareholders," said Mr. Feng Xie, Gamehaus’s founder and chairman. "We have a strong balance sheet, ample cash reserves, and a clear pipeline of opportunities, yet we believe our current share price does not fully reflect the strength of our fundamentals or the long-term growth potential of our business and the gaming industry."
The timing and amount of repurchases will be determined at management’s discretion based on factors including share price, trading volume, market conditions, and legal requirements.
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