Deliveroo (OTCMKTS:DROOF) Initiates Stock Repurchase Program

Deliveroo (OTCMKTS:DROOF) declared that its board has approved a stock buyback plan on Tuesday, March 18th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Deliveroo Stock Performance

OTCMKTS DROOF opened at $1.33 on Thursday. The company’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.75. Deliveroo has a 52-week low of $1.33 and a 52-week high of $2.24.

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.