Core Viewpoint - Wetouch Technologies Inc. has announced a stock buyback program to repurchase up to $15 million of its common stock, reflecting confidence in its business and addressing perceived undervaluation in the market [1][3]. Summary by Sections Stock Buyback Program - The company is authorized to repurchase shares in the open market or through privately negotiated transactions, with the timing and amount depending on various factors such as price and market conditions [2]. - The program does not obligate the company to repurchase a specific number of shares and can be suspended or modified at any time [2]. Financial Position - Wetouch has over $90 million in cash and nearly $8 per share in cash, while its market capitalization is less than $30 million, indicating that the stock is significantly undervalued [3]. - The buyback program is seen as an attractive opportunity to return value to shareholders [3]. Company Overview - Wetouch Technologies Inc. is a leader in the global touch display industry, focusing on innovation and customer satisfaction to provide premium touch display solutions [3].
Wetouch Technologies Inc. Announces $15 Million Stock Buyback Program