Tuya Stock Gains On $200M Fresh Share Buyback Plan

by Anusuya Lahiri, Benzinga Editor
August 30, 2021 8:53 AM | 30 seconds read |
  • Tuya Inc's TUYA board approved a share buyback program of up to $200 million of Class A ordinary shares in the form of ADSs.
  • The IoT platform beat the Q2 revenue consensus while issuing cautious Q3 guidance.
  • Tuya held $1.3 billion in cash and equivalents and generated $5.8 million in operating cash flow.
  • Price Action: TUYA shares traded higher by 2.84% at $9.78 in the premarket session on the last check Monday.
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