Why Is LQR House (LQR) Stock Up 36% Today?

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LQR House (NASDAQ:LQR) stock is taking off on Monday after the digital marketing and brand development company announced a stock repurchase program.

LQR House’s Board of Directors has approved a share repurchase program for up to $2 million worth of LQR stock. These stock repurchases will be made through “open market purchases, privately negotiated transactions, or other methods.”

LQR House notes that the stock repurchase program is not a binding agreement. It also mentions that repurchases will take place based on a few factors. Among these are available liquidity, cash flows, market conditions, as well as corporate and regulatory limitations.

Sean Dollinger, CEO of LQR House, said this about the share repurchase news.

“The current capital market conditions allow us to capture additional value for all shareholders through this measured buyback program. Our Board of Directors and executive management team remain committed to delivering value to our shareholders.”

More LQR Stock News

Alongside this share repurchase agreement, LQR House also announced a partnership with Gold Standard Media. This is a marketing solutions provider that will assist LQR with connecting to companies in need of its services.

LQR stock is up 36.3% as of Monday morning as some 3.8 million shares change hands. For the record, its daily average trading volume is about 3.5 million shares.

Investors on the lookout for more of the most recent stock market news are going to want to stick around!

We have all of the latest stock market stories worth reading about on Monday! Among that is what has shares of Vahanna Tech Edge Acquisition I (NASDAQ:VHNA) stock rising, the biggest pre-market stock movers this morning, and more. All of that news is ready to go at the links below!

More Stock Market News For Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

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