Ehang Holdings Ltd is trading 12.5% up at $8.88 as traders react to a newly announced $30 million share repurchase plan and position ahead of the June 9 first-quarter earnings release.
- The move marks a significant recovery following a 14.46% drop on June 5, suggesting the buyback program is providing a strong catalyst for the rebound.
- Today's gains come despite a recent UBS downgrade to Neutral with a reduced price target, indicating that market sentiment is currently being driven by the repurchase news and pre-earnings speculation.