Ispire Tech Shares Climb on $10M Stock Buyback

Dow Jones2025-01-22

By Dean Seal

Shares of Ispire Technology jumped after the company's board approved a $10 million stock-buyback program.

The stock was up 11% at $4.92 in early trading. Shares were trading at around $10 this time a year ago.

The maker of e-cigarettes and vaping products said Wednesday that its board has authorized a program to repurchase up to $10 million of stock over the next 24 months.

Co-Chief Executive Michael Wang said Ispire's margin expansion efforts have helped it start returning capital to shareholders. The Los Angeles-based company is also repurchasing stock at a discount to its intrinsic value, Wang said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 22, 2025 10:42 ET (15:42 GMT)

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