Rezolve AI (NASDAQ:RZLV) ended a holiday-shortened trading week on a positive note, with shares closing at $2.84 on Thursday, July 2. The stock gained 17.8% from its June 26 close of $2.41, though it remained 15.2% below the weekly high of $3.35 reached on Tuesday.
The gains followed shareholder approval of a significant $300 million share buyback program on June 30. According to data from the company and LSEG, the authorization represents roughly 86% of the estimated four-day trading dollar volume for the week, which totaled approximately $347.8 million on volume of 115.4 million shares.
At Thursday's closing price, the $300 million buyback could theoretically repurchase about 105.6 million shares, nearly matching the week's entire trading volume. However, the company has not committed to purchasing that many shares or specified a timeline for the program.
The buyback news did not trigger a sustained rally. Shares surged 21.2% on June 30, the day of the vote, but then slipped 2.2% on July 1 and fell another 7.8% on July 2. Despite the late-week pullback, the stock still posted a solid weekly gain.
Broader market performance was mixed. The Nasdaq Composite rose 2.1% for the week, the S&P 500 added 1.8%, and the Dow Jones Industrial Average gained 2.0%. The small-cap Russell 2000 slipped 0.5%.
Chairman and CEO Daniel M. Wagner described the shareholder vote as a “clear shareholder mandate” in an SEC filing. He noted that Rezolve now serves over 1,000 enterprise customers, reported unaudited first-quarter revenue of approximately $60 million, and maintained its fiscal 2026 revenue guidance of around $360 million.
Short interest in Rezolve stood at 51.91 million shares as of June 15, representing 21.54% of the float, according to MarketWatch. The $300 million buyback at Thursday’s close would cover roughly 105.6 million shares, more than double the reported short interest. However, the short interest figure will likely change before any repurchases begin.
The buyback program still requires approval from a UK court under the Companies Act 2006, which the company expects by mid-September. There is no minimum purchase requirement, and the plan may be suspended or modified.
Nasdaq was closed on Friday, July 3, for the Independence Day holiday. Regular trading hours are 9:30 a.m. to 4:00 p.m. ET. The next U.S. stock session is scheduled for Monday, July 6.
Investors will be watching to see if the stock can maintain its recent volume levels without active repurchases. Short sellers are likely monitoring the court schedule to assess the timing of any potential buyback execution before September.
