Deliveroo (OTCMKTS:DROOF) Declares Share Repurchase Plan

Deliveroo (OTCMKTS:DROOF) announced that its board has approved a share buyback program on Tuesday, March 18th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs 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 Friday. Deliveroo has a one year low of $1.33 and a one year high of $2.24. The stock’s 50 day simple moving average is $1.64 and its 200 day simple moving average is $1.75.

About Deliveroo

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.