09:57 AM EDT, 08/26/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

MoneyLion ( ML ) shares rose 12% in recent trading after the company said Monday that its board approved the repurchase of up to $20 million of its outstanding class A shares.

The repurchase program, which has no fixed expiration date, is expected to be funded from existing cash on hand and future cash flows, the company said.

Price: 48.60, Change: +5.28, Percent Change: +12.19