Bidz.com repurchases 100,000 shares
Bidz.com, Inc. (Nasdaq: BIDZ), an online auctioneer of jewelry, said today that it has repurchased 100,000 shares of its common stock for $886,000.
The shares, which were repurchased at $8.86 per share, represent approximately 0.4% of the small cap’s estimated 24.6 million outstanding shares as of Dec. 31, 2007.
In June 2007, the company authorized a stock buyback program for up to $5 million of its outstanding common stock to be repurchased through the open market. Bidz.com has $4.1 million of authorization remaining under its program.
Shares of Bidz.com (BIDZ) gained $0.29, or 3.23%, to $9.26 in pre-market trading. Shares of Bidz.com have been trading in the range of $4.90 to $22.50 for the past 52 weeks.
