Oddity Tech Shares Rise 9% After $200Mln Share Buyback Authorization

(RTTNews) - Oddity Tech Ltd. (ODD) shares gained 8.97 percent to $13.67, rising $1.12 on Thursday, after the company announced a new $200 million share repurchase program.

The stock is currently trading at $13.67 compared with its previous close of $12.55. Shares opened at $13.61 and traded between $13.50 and $14.59 during the session on the Nasdaq. Trading volume reached about 1.69 million shares, slightly below the average volume of about 2.02 million shares.

Oddity said its board approved the buyback plan authorizing the repurchase of up to $200 million of its Class A ordinary shares. The new program replaces the company's previous $150 million repurchase plan, under which it had already bought back approximately $97 million worth of shares. The new authorization will remain in effect until March 31, 2029, unless the allocated funds are fully utilized earlier.

The stock has traded in a 52-week range of $10.80 to $79.18.