Following last night’s earnings release and the news that it was launching a tender offer to purchase 6.5 million shares between $1.35 and $1.50, as predicted shares rocked up.

As of 9:45 this morning just 15 minutes into the trading day shares of Tucows are trading at $1.37 up almost 25%.

Shares have traded as high as $1.41

Shares closed at $1.12 yesterday.

The stock buy back program takes place over the next 20 days.