Polar Power Inc: Rises after announcing stock repurchase

Polar Power

28/08/2019 19:30

** Direct current generator maker's shares  POLA.O  rise as
much as 12.2% to $3.45; stock among top pct gainers on the
Nasdaq
    ** Co's board authorizes buyback of up to $500,000 of its
outstanding shares of common stock; repurchase program to expire
on Feb. 28, 2020
    ** POLA, which fell 36.4% YTD, has a market cap of ~$31 mln
    ** "The repurchase program is an excellent opportunity to
buy shares of our common stock at a significant discount to
their intrinsic value," says CEO Arthur Sams

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))