flatexDEGIRO jumps 6% amid shares buyback program launch 📈

Shares of German brokerage firm flatexDEGIRO (FTK.DE) are rallying almost 6.5% today amid company announcement of shares buyback program, which will start today.

• Decision was published yesterday, and today shares of the company opened the session with a strong bullish gap. German Federal Financial Supervisory Authority (BaFin) has accepted the program.
• The buyback program will cover a maximum 11,003,254 shares with a maximum value of 50 million EUR. The start is set for today (October 1, 2024), ending on May 7, 2025 (at the latest).
• Investors see this program as a company commitment to focus on stock market performance and creating value for shareholders. Last year, flatexDEGIRO suggested, that buybacks are possible, but since then investors await for more information.

flatexDEGIRO chart, D1 interval

Source: xStation5