Why Staar Surgical Stock Soared Today

Staar Surgical announced a $50 million share buyback program authorized by its board, causing the stock to surge 7.5% on Friday. The company's CEO cited confidence in the business, strong balance sheet, and ample free cash flow, noting that Staar is substantially undervalued. Recent fundamentals support the move, with the company more than doubling net sales year-over-year in Q2, driven by growth in China, and achieving profitability with nearly $149 million in cash.