From Nasdaq

March 25, 2025 09:43:00 AM:

Gorilla Technology Group Inc. (GRRR) plans to utilize its share repurchase program following the release of its 2024 earnings, leading to an 8.2% jump in shares. The board believes the stock is undervalued due to recent short selling and intends to use remaining funds from the repurchase plan if the price stays low.

Gorilla Technology is set to announce its 2024 financial results on March 31, with a raised repurchase plan of $10 million to reassure shareholders. The board and executive management team plan to buy shares after the earnings release, reflecting confidence in the company’s vision and growth momentum.

The company strategically dismissed allegations against it, emphasizing the individuals spreading misinformation are facing SEC and DOJ charges for fraud and market manipulation. Gorilla Technology reaffirmed its commitment to showcasing business performance and strategic vision, resonating with investors.

Gorilla Technology recently partnered with Global Edge Fund, a $100 billion infrastructure investment fund, allocating $20 billion for digital transformation using Gorilla’s solutions. GRRR’s shares have surged 244.6% in the past year, outperforming the industry’s 16.6% increase.

Gorilla Technology currently holds a Zacks Rank #2 (Buy) and has raised its 2025 revenue estimate to $100-$110 million. Other top-ranked stocks in the Business Services space include Coinbase Global, Inc. (COIN), Dave Inc. (DAVE), and PagSeguro Digital Ltd. (PAGS) – all sporting a Zacks Rank #1 (Strong Buy) with positive growth estimates.

Read more at Nasdaq: Gorilla Signals Confidence With Buybacks & Insider Purchases, Up 8.2%