AVAX One shares surge 22.62% intraday after authorizing $40M share repurchase program.

AVAX One Technology Ltd. surged 22.62% intraday following the announcement of a $40 million share repurchase program authorized by its Board of Directors. The program, with a one-year term, allows open-market purchases or other permitted methods, signaling management’s confidence in the company’s long-term strategy and valuation. CEO Jolie Kahn emphasized that repurchasing shares at current levels represents a "compelling use of capital," as the stock traded near its 52-week low of $1.43. The move underscores the company’s commitment to capital allocation and value creation for shareholders, aligning with its focus on bridging traditional finance with the Avalanche (AVAX) ecosystem. The repurchase program, which may be extended or increased, reflects AVAX One’s strategic positioning amid broader market volatility and its recent rebranding from AgriFORCE to solidify its role in blockchain infrastructure.