Board Of Directors Approve Significant Share Buyback Program

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Wednesday, January 11, 2023

It’s very rare to talk about penny stocks within the industrials sector, but that’s exactly what we feel compelled to do after an Orlando-based micro cap made major waves on Wednesday. At a market cap of less than $27 million with only 7.88m shares outstanding, when Laser Photonics Corporation (Nasdaq:LASE) announced their board of directors authorized a share stock repurchase program permitting the Company to purchase up to an aggregate of 2 million shares of common stock, it’s no wonder that the stock rallied significantly on the news.

Traders pushed shares up to $4.12/share (+62.85%) at the session high. This rally is a strong continuation of the success this stock has had over the last few weeks.

Laser Photonics Corp is an integrated manufacturing company for photonics-based industrial products and solutions, primarily laser cleaning technologies. Its laser-blasting technologies are focused on disrupting the sandblasting and abrasives blasting markets. The company offers a portfolio of integrated laser-blasting solutions for corrosion control, rust removal, de-coating, pre-welding and post-welding, laser cleaning, and surface conditioning. Its laser-blasting solutions are applicable in every industry dealing with materials processing, including automotive, aerospace, healthcare, consumer products, shipbuilding, aerospace, heavy industry, machine manufacturing, nuclear maintenance and de-commissioning, and surface coating.

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