The action in the TOP SHIPS Inc (NASDAQ: TOPS) stock this past Friday was quite intriguing considering the fact that it jumped by as high as 44% despite there being no recent news about the company.
It goes without saying that such a move can be a bit confusing for investors, but in such a situation it might be a good idea to look into certain important developments from the past. For instance, back in August last year, Top Shops received a letter from NASDAQ indicating that its stock regained compliance with regards to its minimum bid price requirements.
Prior to that, back in June 2020, the company had also done a registered direct offering of its stock that fetched as huge as $7.8 million. Top Ships made an offering of as many as 60,000,000 shares of its common stock at $0.13 per share. While there have been no recent developments, it might be useful to keep an eye out for any news regarding Top Ships.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.