AVAX One Technology Announces $40 Million Stock Buyback Program
- AVAX One Technology (AVX) has authorized a stock repurchase program of up to $40 million.
- The buyback will be executed at the company’s discretion based on market conditions, according to CEO Jolie Kahn.
- This move follows a trend among crypto treasury companies aiming to address significant discounts between share prices and underlying asset values.
- AVAX One, previously AgriFORCE Growing Systems, transitioned to a crypto treasury strategy in September with plans to raise $550 million for acquiring AVAX.
As several firms in the cryptocurrency sector adopt share buybacks, AVAX One’s initiative reflects an effort to stabilize its stock amid declining prices. Other companies have also sold assets to fund similar programs.
The $40 million buyback plan is part of AVAX One’s broader strategy to enhance shareholder value while navigating current market challenges.(Source)
