Why Abacus Life (ABL) Shares Are Rising

Abacus Life Inc ABL shares are trading higher by 12.3% to $7.75 Tuesday afternoon after the company announced a $15 million stock repurchase program.

The Chairman and CEO expressed confidence in their business model, technology and team to drive growth and value for shareholders.

The company says it has the flexibility to buy back shares through various methods, including open market transactions, with decisions influenced by factors like stock value, market conditions and legal requirements.

The program isn't a guarantee of purchases and can be adjusted or halted at any time. Abacus plans to finance repurchases using existing cash and expected future cash flow.

See Also: Retail Investing Peaks In 2023

According to data from Benzinga Pro, ABL has a 52-week high of $11.43 and a 52-week low of $5.47.