(RTTNews) - Ekso Bionics Holdings, Inc. (EKSO) shares jumped 102.93%, closing at $11.08, up $5.62, after Applied Digital announced plans to spin out its cloud business, a move investors interpreted as potentially unlocking value for affiliates, including Ekso.
The stock rallied following news that Applied Digital is pursuing a separation of its cloud segment into a standalone business, with proposed strategic actions aimed at sharpening operational focus and capital allocation.
On the day of the announcement, EKSO opened near $5.46, climbed to an intraday high of $11.20, and touched a low of $5.40, compared with a previous close of $5.46. The stock trades on the Nasdaq.
Trading volume was unusually heavy, coming in well above the stock's average daily volume, reflecting heightened investor interest around the restructuring proposal. Ekso Bionics' 52-week range is approximately $2.90 - $11.20.
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