Volcon Expands Stock Buyback Authorization to $100 Million to Acquire More BTC
Foresight News reports that U.S.-listed company Volcon (NASDAQ: VLCN) has announced it holds 3,183.37 Bitcoin (BTC), with a total acquisition cost of approximately $375 million and an average purchase price of $117,697 per BTC. In addition, the company announced that its board of directors has approved an increase to the existing stock repurchase program. Volcon is now authorized to repurchase up to $100 million of its outstanding common stock over the next 24 months and to increase its Bitcoin (BTC) holdings when the stock price is below net asset value.
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