Deliveroo (OTCMKTS:DROOF) Board Declares Stock Repurchase Plan

Deliveroo (OTCMKTS:DROOF) declared that its board has approved a stock buyback program on Tuesday, March 18th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Deliveroo Stock Performance

Shares of DROOF remained flat at $1.33 during trading hours on Tuesday. The stock had a trading volume of 1 shares, compared to its average volume of 1,002. The company’s 50-day moving average is $1.65 and its 200 day moving average is $1.75. Deliveroo has a 1 year low of $1.33 and a 1 year high of $2.24.

Deliveroo Company Profile

Deliveroo plc, a holding company, operates an online food delivery platform in the United Kingdom, Ireland, France, Italy, Belgium, Hong Kong, Singapore, the United Arab Emirates, Kuwait, and Qatar. The company connects local consumers, shops, riders and restaurants, and grocery partners. Deliveroo plc was founded in 2013 and is based in London, the United Kingdom.