Deliveroo plc (OTCMKTS:DROOF – Get Free Report) shares shot up 2.2% during mid-day trading on Tuesday . The stock traded as high as $1.38 and last traded at $1.38. 6,225 shares were traded during mid-day trading, an increase of 106% from the average session volume of 3,019 shares. The stock had previously closed at $1.35.
Deliveroo Trading Up 2.2 %
The business has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.71.
Deliveroo declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
About Deliveroo
Deliveroo plc, a holding company, operates an online food delivery platform in the United Kingdom, Ireland, France, Italy, Belgium, Hong Kong, Singapore, the United Arab Emirates, Kuwait, and Qatar. The company connects local consumers, shops, riders and restaurants, and grocery partners. Deliveroo plc was founded in 2013 and is based in London, the United Kingdom.
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