Why Triterras Stock Popped Today

Shares of Triterras (NASDAQ: TRIT) popped by as much as 19% today after the company provided investors with business updates. As of 11 a.m. EDT, the stock had given back some of those gains but was still up 8%.

Triterras said that it had completed the $50 million share repurchase program that was announced back in January. The company bought back nearly 6.7 million shares at an average price of $7.47 per share and Triterras had $130 million in cash as of May 1 with no long-term debt. Triterras also said that it is working to retain an independent auditor to assist in releasing its fiscal 2020 earnings.

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Source Fool.com