(RTTNews) - Shares of Muscle Maker Inc. (GRIL) soared 52% on heavy volume on Monday morning, despite no stock-related news release from the company.
GRIL is currently trading at $2.34, up $0.81 or 52.9412%, on the Nasdaq.
On Friday, the parent company of Muscle Maker Grill had announced the acquisition of one of its previously franchise-owned locations in New York City.
Muscle Maker owns, operates, and franchises Muscle Maker Grill and Healthy Joe's restaurants under the Muscle Maker Grill name. As of December 31, 2019, the company had 10 company-owned and 28 franchised restaurants located in the United States and Kuwait.
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