Shares of EHang Holdings Ltd (EH.US) surged more than 11% on Monday, trading at $8.80.
The significant price movement follows the company's recent announcement. On June 8, the eVTOL aircraft developer disclosed that its board of directors has authorized a new share repurchase program.
Under this approved plan, the company is authorized to repurchase up to $30 million worth of its American Depositary Shares (ADS) or ordinary shares over the next 12 months.
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