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Benzinga
Benzinga
Business
Shivani Kumaresan

1847 Goedeker Stock Surges After New $25M Stock Buyback Plan

  • 1847 Goedeker Inc's (NYSE:GOED) Board of Directors authorized a new share repurchase program for up to $25 million of common stock.
  • The company plans to conduct the repurchase in the open market.
  • "Now that we have begun implementing a clear strategy focused on e-commerce growth, our leadership has been able to establish an accretive capital allocation philosophy," said CEO Albert Fouerti.
  • The company held $27.2 million in cash and equivalents as of September 30, 2021.
  • Price Action: GOED shares are trading higher by 15.7% at $2.65 on the last check on Tuesday.
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