Why Boxlight (BOXL) Shares Are Trading Higher Today

Boxlight Corp's BOXL board approved a buyback of up to $15 million.
"As our business matures, we expect growing operating cash flows that we will strategically deploy to drive long-term value to our shareholders, including the repurchase of our stock during times we are trading below our intrinsic value," commented Michael Pope, CEO and Chairman at Boxlight.
Boxlight held $22 million in cash and equivalents as of September 30.
Chair and CEO Michael Pope said, "We ended the quarter with a strong balance sheet including $22 million in cash, $49 million in inventory, $62 million in working capital, and $47 million in net assets. Also, for the first time, we reported positive cash flows from operations for both the three months and nine months ended September 30, 2022."
Price Action: BOXL shares traded higher by 32.4% at $0.53 on the last check Tuesday.