This is why $MOGU stock surging higher than 30% today.
HANGZHOU, China–(BUSINESS WIRE)– MOGU Inc. (NYSE: MOGU) (“MOGU” or the “Company”), a KOL-driven online fashion and lifestyle destination in China, today announced that its board of directors has authorized a new share repurchase program, where the Company is authorized to repurchase up to US$10 million of its shares, effective until August 31, 2023. The Company expects to fund the repurchases under this program with its existing cash balance.
The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
MOGU STOCK UPDATE:
Short Interest 5,297 shares – source: NYSE Short Interest Ratio 0.14 Days to Cover Short Interest % Float 0.19% – source: NYSE (short interest), Capital IQ (float) Off-Exchange Short Volume 3,122 shares – source: FINRA (inc. Dark Pool volume) Off-Exchange Short Volume Ratio 24.88% – source: FINRA (inc. Dark Pool volume)