Metaplanet Stock Rises as ¥25B Buyback Counters Bitcoin Risk

Key Insights Metaplanet stock pared back some of the losses after the company announced a new share buyback. The stock did modestly well as Bitcoin price remained below $80,000. Technicals suggest that Bitcoin and Metaplanet stock are retreating. Metaplanet stock recovered on Nov. 2 after the Japanese Bitcoin treasury company disclosed further share repurchases. Shares climbed from ¥238 to close at ¥250, gaining 2.46% despite Bitcoin remaining below $80,000. The company reported buying back ¥25.27 billion in shares through October. It also announced an early debt repayment and revised funding plans for additional Bitcoin purchases.