Gamehaus Holdings Inc. (NASDAQ:GMHS) saw its stock surge 93% after the company revealed a $5 million share repurchase program approved by its Board of Directors.
The mobile game publisher, which focuses on technology-driven gaming experiences, stated that the buyback plan is effective immediately and will continue through August 28, 2026. The program will be funded using the company’s existing cash reserves and cash generated from operations.
Under the plan, Gamehaus may acquire shares via open market purchases, private agreements, block trades, or other legally permissible methods, potentially including trading arrangements that comply with Rule 10b-18 of the Securities Exchange Act of 1934.
“Authorizing this share repurchase program reflects our balanced approach to capital allocation, investing in long-term growth while also returning value to shareholders,” said Mr. Feng Xie, Gamehaus’s founder and chairman. “We have a strong balance sheet, ample cash reserves, and a clear pipeline of opportunities, yet we believe our current share price does not fully reflect the strength of our fundamentals or the long-term growth potential of our business and the gaming industry.”
The company added that the timing and scale of repurchases will be determined at management’s discretion, taking into account factors such as share price, trading volume, market conditions, and regulatory requirements.
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