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PowerSecure bounces on buyback announcement

  • With shares having crashed in response to a big Q1 miss and worse guidance, PowerSecure (POWR +4.6%) says it plans to start using an existing $5M buyback authorization, and will "explore options to expand and extend" it. (8-K)
  • PowerSecure had $38.2M in cash at the end of Q1, but that figure represented a $12.7M Q/Q decline.
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