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Phoenix Motor Announces Board Approval of $5 Million Share Repurchase Program

1. Phoenix Motor Inc. announced a $5 million share repurchase program. 2. CEO claims current share price undervalues the company's long-term prospects.

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Why Bullish?

Share repurchase programs typically indicate management's confidence in the company's value, as seen historically with other firms. This can lead to improved investor sentiment and upward price momentum, reflecting a strong belief in PEV's underlying value.

How important is it?

The announcement is significant as it reflects management's strategic efforts to enhance shareholder value. A buyback signals confidence and could result in a short-term price increase, thus impacting trading strategies around PEV.

Why Short Term?

The immediate effect of the buyback could boost share price and attract investor interest, similar to trends seen in companies like Apple after initiating buybacks. Rapid stock price adjustments can occur within weeks following such announcements.

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ANAHEIM, CA / ACCESS Newswire / March 25, 2025 / Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $5 million of its outstanding common stock. "We believe that our current share price does not fully reflect the underlying value and long-term prospects of Phoenix Motor," said Denton Peng, CEO of Phoenix Motor.

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