06:59 AM EDT, 07/22/2024 (MT Newswires) -- Daqo New Energy ( DQ ) said Monday that its board has approved a $100 million share repurchase program, effective immediately until June 30, 2025.

The company said it expects to fund the repurchase program primarily out of its potentially available cash as well as its existing cash balance.

Shares of the company rose more than 7% in recent premarket activity Monday.

Price: 17.23, Change: +1.15, Percent Change: +7.15