Gorilla Technology Group Inc. (GRRR) has released an update.
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Gorilla Technology Group Inc. has initiated a share buyback program, committing up to $6 million to purchase 1.1 million shares, in response to a perceived undervaluation of their stock despite strong business performance. The company’s robust financial position, with cash reserves exceeding $40 million, allows them to undertake this strategic move to realign the stock price with its intrinsic value and bolster shareholder confidence. Gorilla’s management expresses strong belief in the company’s future potential and solid financial footing, with unaudited first half financials of 2024 expected by the end of September.
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