Gamehaus (GMHS) stock rocketed higher on Friday after the mobile game publisher announced a $5 million share repurchase program. It will fund repurchases made through this program with cash on hand and cash generated from operations. The program has already started and will last through August 28, 2026.
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Gamehaus noted that it will repurchase shares in open market transactions, privately negotiated transactions, block trades, as well as through other legally permissible means, such as trading plans. It also said that the timing of repurchases will be affected by several factors, including share price, trading volume, market conditions, legal and regulatory requirements, business outlook, and capital allocation priorities.
Feng Xie, founder and chairman of Gamehaus, said, “We have a strong balance sheet, ample cash reserves, and a clear pipeline of opportunities, yet we believe our current share price does not fully reflect the strength of our fundamentals or the long-term growth potential of our business and the gaming industry. This program reinforces our confidence in the future of Gamehaus and the enduring bond we share with our global community of players.”
Gamehaus Stock Movement Today
Gamehaus stock was up 103.54% on Friday, following a slight rally yesterday. Even so, the company’s shares have fallen 89.96% year-to-date and 89.6% over the past 12 months. Today’s share buyback news brought with it heavy trading of GMHS stock, as some 46 million shares changed hands, compared to a three-month daily average of about 1.23 million units.
