RFAI Extends Surge to 489% Premarket After SPAC Merger Approval
RFAI has more than doubled off its 52-week low of $8.94 on elevated volume (7.6× avg).
Summary
RFAI is up 489% to $75.00 in Friday's premarket, extending the massive move that began after shareholders approved the business combination with Nanyang Biologics. The stock had already surged 473% to $73.00 in after-hours trading following the vote. This is a new trading session with even higher prices, suggesting continued momentum into the regular session. The merger approval was reported earlier this morning, but the premarket action shows traders are still piling in. SUGP is also up 46% premarket, but RFAI is the primary mover here.
At the time of this announcement, RFAI was trading at $68.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $106.2M. The 52-week trading range was $8.94 to $12.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.