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Why China Jo-Jo Drugstores Shares Are Skyrocketing Today?

Benzinga ·  04/19/2023 21:40

China Jo-Jo Drugstores Holdings Inc (NASDAQ:CJJD) stock is surging Wednesday morning following the termination of its previously announced equity offering.The company had announced registered direct offering to issue 2.3 million shares and registered warrants to purchase up to 4.5 million shares to an institutional investor.The purchase price for the equity offering was $3.10 per share.The company had hoped to rake in $7 million in proceeds from the offering.Price Action: CJJD shares are trading higher by 91% at $1.29 on the last check Wednesday.

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