Deliveroo (OTCMKTS:DROOF) Board Authorizes Share Repurchase Program

Deliveroo (OTCMKTS:DROOF) declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Deliveroo Price Performance

OTCMKTS:DROOF remained flat at $1.33 during mid-day trading on Tuesday. The company had a trading volume of 1 shares, compared to its average volume of 1,002. Deliveroo has a 52 week low of $1.33 and a 52 week high of $2.24. The firm’s 50-day moving average is $1.65 and its 200 day moving average is $1.75.

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.