Eightco Holdings Stock Surges on Major Buyback and Treasury Update
The stock price of Eightco Holdings (ORBS) surged by 21.18% to $1.0150 following an update on its treasury and share buyback program. The company reported that it had repurchased over 25 million common shares during the past month, which falls under its previously announced $125 million share repurchase program.
The update also revealed that Eightco's total holdings stand at approximately $380 million across various asset categories. This includes cash and stablecoins worth about $122 million, digital assets, and stakes in several private technology companies.
The company's treasury is built around artificial intelligence, digital identity, and the creator economy. It has significant exposures to these themes through its investments in OpenAI, Worldcoin, and Beast Industries. Eightco holds 301,971,219 Worldcoin tokens, valued at $0.37 per token, representing about 29% of its treasury assets.
The company's exposure to digital identity infrastructure is linked to the growth of the World network, which expanded its identity technology through the open-source release of ProveKit on September 2.