La Rosa Launches $500,000 Stock Buyback Program Amid Strong Growth And Optimism

(RTTNews) - La Rosa Holdings Corp. (LRHC) Thursday has announced a stock repurchase program, authorizing the buyback of up to $500,000 of its common shares from the open market.

The initiative, approved by the Board of Directors, will be executed based on various factors including market conditions, share price, capital requirements, and other strategic considerations.

The company, a real estate and PropTech firm, sees the move as a way to enhance shareholder value. CEO Joe La Rosa emphasized the Board's confidence in the company's trajectory, noting recent milestones such as a 119% year-over-year revenue increase to $69.4 million in fiscal 2024, and a 55% rise to $17.7 million in Q4 alone.

He also highlighted the expansion of La Rosa's agent network to over 2,700 members. La Rosa believes the company's current share price does not reflect its strong performance and growth potential, and views the buyback as a strategic investment in its future.

LRHC is currently trading at $0.1606 or 31.5057% higher on the Nasdaq Capital Market.