Wetouch Technology announces $15M stock buyback; CEO says stock significantly undervalued

Wetouch Technology Inc.

Board approved repurchase of up to $15 million of common stock at $1-$4 per share.
Buyback to run for up to 12 months from July 1, 2024, subject to market conditions.
CEO Zongyi Lian cites over $90M cash ($8/share) vs. market cap under $30M as undervaluation.
Repurchases may be made in open market or private transactions; no obligation to buy.
Program can be suspended or discontinued at any time without notice.

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