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ZOOZ Pre-market Stock Plunges Over 34%, Market Cap Falls to $228 Million
BlockBeats News, November 3rd, the stock price of the publicly listed Bitcoin treasury company ZOOZ Strategy Ltd. plummeted over 34% in pre-market trading, with a market cap falling to $228 million.
On the news front, ZOOZ Strategy Ltd. announced today that its board of directors has approved the initiation of a stock buyback program, intending to repurchase up to a total of $50 million of the company's issued common stock, subject to applicable regulatory requirements. The stock buyback program has a duration of 12 months and the company may execute it on a non-periodic basis through various means, including open market purchases, negotiated transactions, or other methods in compliance with applicable laws. The company stated that the plan does not obligate it to repurchase a specific number of shares, and the company may decide to suspend or terminate the plan at any time at its discretion.
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