The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Fidelity Holdings Plans to Buy Back Up to 1M of its Outstanding Shares

11 May 2000

Fidelity Holdings, Inc. Announces Plans to Buy Back Up to 1,000,000 of its Outstanding Shares

    KEW GARDENS, N.Y.--May 11, 2000--Fidelity Holdings, Inc. today announced that its Board of Directors has authorized the repurchase of up to 1,000,000 shares of the Company's outstanding common stock.
    The Company believes that at current levels, the stock is greatly undervalued. In light of the Company's business prospects and existing plans for future growth in both its automotive and technology divisions, the Board determined to repurchase shares. The Company intends to repurchase shares depending on market conditions and the price per share.