Why Richtech Robotics Stock Popped Today
Richtech thinks it's found a great stock idea -- itself.
Overview
Richtech Robotics (NASDAQ: RR) stock soared 17% through 12:45 p.m. ET on Tuesday after announcing plans to buy back $12 million worth of stock.
Shares of the Las Vegas-based robotics company fell 35% in the first half of this year. You and I might view that as a disaster -- but Richtech sees it as an opportunity to scoop up some shares on the cheap, and concentrate future profits among fewer shares outstanding.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.