This Is Why Oddity Tech Stock Is Up 7% Today

After losing ground for several months before suffering a near-50% single-day setback in late-February (in response to disappointing forward-looking guidance within its fiscal Q4 report), shares of Oddity Tech (NASDAQ: ODD) are finally fighting back. As of 12:56 p.m. ET Thursday, in fact, shares of this consumer-facing cosmetics technology outfit are up 7%, and at one point were up as much as 16.3%.The prompt? The announcement of a sizable stock-repurchase program.Oddity unveiled the new plan this morning. Taking advantage of its stock's recent weakness, on Thursday, the company announced it's expanding its previous plan to repurchase $150 million of its own stock by upping the budget to $200 million. Taking these shares out of circulation has the effect of increasing the value of Oddity's stock still left in investors' hands. For perspective, prior to today's gain Oddity Tech's market cap was roughly $720 million. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool