Bitcoin Depot shares rise 10.64% premarket after announcing $10M share repurchase program.

Bitcoin Depot (NASDAQ:BTM) rose 10.64% in premarket trading following the announcement of a $10 million share repurchase program disclosed on September 22. The move signals management’s confidence in the stock’s valuation and aims to return value to shareholders by reducing outstanding shares, a bullish catalyst that typically boosts investor sentiment. Recent analyst activity, including B. Riley initiating coverage and earnings guidance updates, also contributed to positive momentum, though the share buyback program is the most directly linked to the sharp premarket surge.