Horizon Technology buying the dip in its stock

• Horizon Technology (NASDAQ:HRZN) receives board approval for the buyback of up to $5M worth of company stock.
• At today's closing price of $9.17 - down 4.7% on the session and 35% since Memorial Day - it would be enough to repurchase abut 545K shares, or just under 5% of the float.
• "The stock repurchase program is intended to minimize the adverse effects of market volatility on the price of Horizon's common stock," says the company.
• Source: Press Release