LiveOne Repurchases Shares, Anticipates Russell 2000 Index Inclusion

LiveOne Inc. repurchased 4.1 million shares at $1.875, leaving $4.75 million remaining from its $10 million share repurchase program. The company expects to join the Russell 2000 Index in June, which could increase institutional ownership.

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Bijay Laxmi
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LiveOne Repurchases Shares, Anticipates Russell 2000 Index Inclusion

LiveOne Repurchases Shares, Anticipates Russell 2000 Index Inclusion

LiveOne Inc. (NASDAQ:LVO), a creator-first music, entertainment, and technology platform, has announced the repurchase of 4.1 million shares at an average price of $1.875. This leaves $4.75 million remaining from its authorized $10 million share repurchase program.

Why this matters: The company's share repurchase and potential inclusion in the Russell 2000 Index could have a significant impact on investor confidence and the overall stock market. As LiveOne's market capitalization and revenue growth continue to increase, it may attract more institutional investors and influence the broader market trends.

The company also expects to join the Russell 2000 Index in June, a move that could increase institutional ownership. CEO Robert Ellin expressed confidence in LiveOne's future prospects, stating, "We are confident in the company's future prospects and believe our stock is undervalued." eyes

LiveOne's market capitalization currently stands at $178.63 million, with revenue growth of 15.99% over the last twelve months as of Q3 2024. The company's stock has seen significant returns, with a 33.93% price total return over the last three months and a 67.41% return over the last six months. However, LiveOne's P/E ratio of -9.69 indicates the company is not currently profitable.

According to InvestingPro insights, LiveOne operates with a moderate level of debt, and analysts do not anticipate the company will be profitable within the year. The platform currently lists a total of 11 tips for LiveOne, providing a comprehensive view of the company's financial standing and market potential.

LiveOne's recentcontinuesand potential inclusion in the Russell 2000 Index demonstrate the company's commitment to creating value for investors. As an award-winning platform delivering premium experiences and content worldwide, LiveOne has garnered accolades for its innovative approach through subsidiaries like Slacker Radio and PodcastOne.