- Cinedigm ( NASDAQ: CIDM ) has announced a stock repurchase program covering up to 10M shares of Class A common stock.
- That program runs for a year, to March 1, 2024.
- "This stock repurchase program, which is effective immediately, is a testimonial to the unwavering confidence the board and management of Cinedigm has in the future of the company and the considerably undervalued price of our common stock," Chairman/CEO Chris McGurk said.
- "We are on a strategic path that will differentiate us from all others in our industry and produce sustained profitability and growth," he added.
- The stock is down 5.4% early Wednesday to $0.4654, resulting in a market capitalization of just over $83M.
For further details see:
Cinedigm OKs repurchase of up to 10M shares