Shares of SuperX AI Technology Limited (SUPX.US) traded lower on Wednesday, dipping more than 2% to touch an intraday low of $7.20.

The move comes as the company provided an update on its share repurchase program. The board had approved a new buyback plan on August 6, authorizing the repurchase of up to $20 million of outstanding common shares over the following 12 months. As of September 2, the company had repurchased 5,630 ordinary shares under the 2026 share repurchase program at an average net purchase price of $7.9325 per share.

Management stated that ongoing secondary market buybacks reflect the board's and management's confidence in the company's intrinsic value and long-term growth prospects. Notably, Wednesday's intraday low of $7.20 fell below the average repurchase price of $7.9325 disclosed as of September 2.

Additionally, on September 8, the company further repurchased 119,360 ordinary shares at an average net purchase price of $7.7691 per share. SuperX AI Technology is a full-stack AI infrastructure solutions provider. The company previously indicated that this new buyback round forms part of its capital allocation strategy, while maintaining the necessary financial flexibility to support core business expansion and strategic investments.