BitGo Announces $50M Stock Buyback Plan, Shares Surge 20% on June 17

According to BlockBeats, digital asset infrastructure provider BitGo (BTGO) announced a $50 million stock buyback plan on Wednesday, June 17, sending its shares up as much as 20%. The program allows BitGo to repurchase up to $50 million in common stock—approximately 8% of outstanding shares—through open market purchases, private negotiations, and block trades. The buyback is effective immediately with no expiration date. Despite the intraday gain, BitGo shares remain down roughly 65% since the company's January IPO on the New York Stock Exchange, with the stock trading near $6.07 compared to its $18 IPO price.
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