Shares of Ever-Glory International Group Inc.
rocketed 99.1% in active trading early Monday, enough to pace all of the gainers in the premarket session, after the China-based apparel retailer and supply chain solution provider announced a share repurchase program of up to $5 million. Trading volume of 10.9 million shares, which compares with the full-day average of about 755,000 shares, made the stock the second-most active in the premarket. Based on Friday’s stock closing price of $2.26, the buyback program, which lasts through the end of the year, could represent 14.9% of the company’s market capitalization. The most active stock in the premarket is Exicure Inc.’s
which ran up 36.3% on 16.0 million shares after Ipsen
said it will make an upfront cash payment of $20 million to Exicure as part of an exclusive collaboration to research, develop and commercialize potential treatments for Huntington’s disease and Angelman syndrome. Exicure will also be eligible to receive $1 billion in option exercise fees and milestone payments. The rallies come as futures
for the S&P 500