Share Buyback Sends DeFi Shares Soaring

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, October 9, 2024

News that this company approved a share buyback program with immediate plans to reduce its authorized shares is sending shares soaring in Wednesday morning trade.

Unitronix Corp. (OTC: UTRX) is a forward-thinking organization focused on high-growth opportunities within blockchain technology, digital currencies, and decentralized finance ( DeFi ). Today, the firm announced in a press release that management recently approved a share buyback program and plans to reduce its Authorized Shares immediately, underscoring Unitronix's commitment to enhancing shareholder value.

The buyback is in line with the firm’s ongoing restructuring efforts. Through the share buyback program, Unitronix has authorized the repurchase of up to 100,000,000 shares of its outstanding common stock through the remainder of 2024. Unitronix believes this action, along with a reduction of the company's authorized shares, and that investments into innovative projects could potentially drive significant engagement and growth for the company within the blockchain sector.

Shares were trading up over 98 percent in late morning activity.

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