Remark Holdings Inc: At over 6-month high on share repurchase, revenue outlook

Remark Holdings

11/01/2021 16:55

** Artificial intelligence-based software provider's shares
 MARK.O  gain 22.6% to $2.39; Highest in more than 6 months
    ** Stock among top pct gainers on Nasdaq and set for biggest
daily pct gain in 81 days
    ** Company to repurchase shares worth $30 mln 
    ** Expects Q4 revenue of at least $4.7 mln, above analysts' 
estimates - Refinitiv data  urn:newsml:reuters.com:*:nPn7y4RZNa
    ** Sees FY 2020 revenue to be double that of 2019
    ** "Smart Community projects are underway and expanding, and
the rollout of China Mobile retail stores is expected to
accelerate in the coming year" - CEO
    ** MARK currently has ~99.5 mln shares outstanding and
market capitalization of about $194 mln

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com))