Why Shares Of JX Luxventure Are Trading Higher Today

JX Luxventure Ltd. LLL shares are trading higher after the company announced a $5 million share repurchase program and signed a $30 million sales agreement.

On June 20, 2022, the Company's Board of Directors authorized a share repurchase program of up to $5 million of the company's common stock from time to time during a 12-month period by Sun "Ice" Lei, Chief Executive Officer of the Company. 

Pursuant to the agreement, Hainan Douxing will sell JX Hainan cross-border merchandise, including cosmetics and skincare products, in the amount up to $30 million on the live-stream E-commerce shows hosted by Hainan Douxing.

Ms. Sun "Ice" Lei, Chief Executive Officer of the Company, commented "We believe that the current trading price of our stock is not a true reflection of our business value. We have confidence in our business and believe the stock price will soon reflect and match our business growth. This Share Repurchase Program confirms this belief and will unlock our shareholder value.”

JX Luxventure Ltd is engaged in the business of menswear, cross-border merchandise, airfare, and tourism. The company operates in five segments Wholesale, Retail, Contract manufacturing, Tourism service, and Cross border e-commerce.

LLL Price Action: JX Luxventure Limited has traded between $7.16 and $1.28 over a 52-week period.

The stock was trading about 15.4% higher at $1.72 cents per share on Wednesday at the time of publication.