TOP Ships Inc. (NYSE:TOPS) shares are pulling back after a strong surge in after-hours trading Monday. The company issued a statement on the unusual trading activity Tuesday morning.
- TOP Ships stock is surging to new heights today. Why are TOPS shares rallying?
TOP Ships Responds To Unusual Market Action
TOP Ships said Tuesday it became aware of unusual trading activity in its common stock during post-market hours on Monday and pre-market hours early Tuesday, and issued a statement pursuant to Section 401(d) of the NYSE American Company Guide.
The company said it made inquiries and does not believe any conditions requiring corrective action exist, adding that there has been no material development in its business that was not previously disclosed, concluding that it’s not aware of a reason for the unusual trading activity.
The statement comes after TOP Ships shares soared late Monday as traders circled a filing disclosing changes to ownership stakes.
TOPS Stock Volatility
TOPS Price Action: At the time of publication, TOP Ships shares are trading 44.96% higher at $1.05, according to data from Benzinga Pro. The stock is well off its highs of $1.29 for the session and even further below prices of approximately $1.60 reached in pre-market trading Tuesday.
This illustration was generated using artificial intelligence via Midjourney.
Login to comment