India, Aug. 3 -- On Monday, Gaxos.ai Inc. (GXAI) announced that its Board has authorized a new share repurchase program to buy back up to an aggregate of $1 million of its common stock.
In the pre-market activity on the Nasdaq, the shares were trading 6.81 percent higher at $0.8011, after closing Friday's trading 5.76 percent down.
According to the firm, the program directly reflects the Board's belief that the current stock price does not indicate its true value.
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The company will decide the timing, number of shares in the program and the price based on its available cash, cash flow, market conditions, and legal or regulatory requirements.
Gaxos added ...