Mercurity Fintech (NASDAQ:MFH) to Buyback $10.00 million in Outstanding Stock

Mercurity Fintech (NASDAQ:MFH) declared that its board has approved a share buyback program on Tuesday, July 22nd, RTT News reports. The company plans to buyback $10.00 million in shares. This buyback authorization allows the company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Mercurity Fintech Stock Performance

Mercurity Fintech stock opened at $2.10 on Wednesday. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $5.54. Mercurity Fintech has a one year low of $1.03 and a one year high of $8.86.

About Mercurity Fintech

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals.