Sonic Foundry announces stock buyback

Sonic Foundry will buy back up to $1 million worth of its common stock in a move to bolster its stock price, which has hovered between $5.67 and $9 over the past year. The move, authorized by the company’s board of directors, is being touted as a sign of confidence in the future of Sonic Foundry stock. Shares can be repurchased in the open market or through privately negotiated transactions.