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18:45
Aug 27
Aug 27
Bitmine buybacks show undervalued stock.
Bitmine introduced a $4 billion common equity buyback authorization, potentially enough to buy back 50% of the company, because management believes the stock was trading below fundamental value. Buying back shares grows Ethereum per share; the company bought nearly 20 million shares back under $15 and the stock is now $26, which Lee sees as a successful program and a good investment.
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About BMR Analyst Coverage
Buzzberg tracks BMR across 1 sources. 1 bullish vs 0 bearish calls from 1 analysts. Sentiment: predominantly bullish (100%). 1 total trade idea tracked. Past 7 days: 1 bullish. Latest voices: Tom Lee.