RBCN - Rubicon Technology approves $3M stock buyback plan

The borad of Rubicon Technology (RBCN) has authorized new stock repurchase plan up to an additional $3M of common shares, expiring on December 18, 2022. “With the sale last week by RTI of its ownership in Rubicon Sapphire Technology (Malaysia) SDN BHD, the liquidation of all of RTI’s material excess assets and the consolidation of our operating facilities, is now complete. In our opinion, shares of Rubicon’s common stock are currently trading at a discount to its intrinsic value and it is a good use of our capital to repurchase our common stock at favorable prices,” said Timothy Brog, Rubicon’s Chief Executive Officer.Press release

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Rubicon Technology approves $3M stock buyback plan