Nisun Repurchase $15 Mln Of Shares, Stock Down Over 19%

(RTTNews) - Nisun International Enterprise Development Group Co. Ltd. (NISN) announced on Wednesday that its Board has approved a share repurchase of up to $15 million of its Class A shares over the next 12 months.

The repurchase will be funded using the company's cash on hand and profit.

"The share repurchase program reflects Nisun International's confidence in its business outlook and long-term growth prospects. By reducing the total number of shares outstanding, the program is expected to enhance shareholder value by increasing earnings per share," the company said. NISN was trading down by 19.24 percent at $15.49 on the Nasdaq.