India, April 22 -- Shares of Oblong, Inc. (OBLG) gained over 26% on Tuesday morning after the company authorized a stock buyback program to repurchase up to $500,000 of common stock.
OBLG is currently trading at $2.7350, up $0.5750 or 26.6130%, on a huge volume of 13 million shares, above average volume of 23 thousand, on the Nasdaq. The stock opened its trading at $3.9599 after closing Monday at $2.1600. The stock has traded between $1.9100 and $14.8000 in the past 52-week period.
With approximately 1.1 million shares of common stock outstanding, the Program could enable the company to repurchase up to approximately 25% of its shares at current market prices.
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