US Stock Movement | SuperX AI Technology (SUPX.US) once fell more than 2% after launching a $20 million share buyback plan

According to Jinse Finance APP, on Wednesday, SuperX AI Technology (SUPX.US) shares declined, at one point falling more than 2% to hit an intraday low of $7.2. According to reports, the company recently announced the latest progress on its share buyback program. On August 6, the company’s board of directors approved a new round of share repurchases, authorizing the company to buy back up to $20 million worth of outstanding ordinary shares over the next 12 months. As of September 2, the company had repurchased 5,630 ordinary shares under the 2026 share buyback plan, with an average net repurchase price of $7.9325 per share. The company stated that continuing secondary market share repurchases reflects the confidence of the board and management in the company’s intrinsic value and long-term growth prospects.

It is worth noting that SUPX’s intraday low on Wednesday was $7.20, which is already lower than the company’s average buyback price of $7.9325 per share as disclosed up to September 2. In addition, on September 8, the company further repurchased 119,360 ordinary shares at an average net buyback price of $7.7691 per share.

SuperX AI Technology is a full-stack AI infrastructure solutions provider. The company previously stated that the new round of share buybacks is part of its capital allocation strategy, and it will continue to maintain necessary financial flexibility to support core business expansion and strategic investments.