Here's Why VerifyMe Shares Are Trading Higher Today

VerifyMe, Inc VRME elected not to extend the period for a special purpose acquisition company (SPAC) merger with G3 VRM Acquisition Corp GGGVU.
VerifyMe's board determined that it was not in its best interests to allocate additional financial capital at this time for the SPAC to consummate a business combination. Instead, it will focus on its core business and the recent acquisition of PeriShip.
Additionally, VerifyMe's board approved a new share repurchase program worth $1.5 million replacing the existing share repurchase program.
VerifyMe provides brand owners time and temperature-sensitive logistics, authentication, supply chain monitoring, and data-rich consumer engagement features using unique smartphone readable codes on their products.
VerifyMe held $8.4 million in cash and equivalents as of March 31.
Price Action: VRME shares traded higher by 32.6% at $2.60 on the last check Friday.