Changes in US stocks | SuperX AI Technology (SUPX.US) once fell more than 2% before launching a $20 million share repurchase program

The Zhitong Finance App learned that on Wednesday, the stock price of SuperX AI Technology (SUPX.US) fell, once falling more than 2% to hit an intraday low of $7.2. According to the news, the company previously announced the latest developments in the share repurchase plan. The company's board of directors approved a new round of share repurchase plans on August 6, authorizing the company to repurchase up to $20 million of issued common shares within the next 12 months. As of September 2, the company has repurchased 5,630 common shares in accordance with the 2026 share repurchase plan, with an average net repurchase price of $7.9325 per share. The company said that the continued repurchase of shares in the secondary market reflects the board of directors and management's confidence in the company's intrinsic value and long-term growth prospects.

Notably, SUPX reported an intraday low of $7.20 on Wednesday, which is already lower than the average repurchase price of $7.9325 disclosed by the company as of September 2. In addition, the company further repurchased 119,360 shares of common stock on September 8, with an average net repurchase price of $7.7691 per share.

SuperX AI Technology is a full-stack AI infrastructure solutions provider. The company previously stated that the new round of share buybacks is part of its capital allocation strategy, while continuing to maintain the necessary financial flexibility to support core business expansion and strategic investments.