Innodata Inc. (NASDAQ: $INOD
) shares extended a sharp rally in premarket trading Wednesday after rising 22.45% over the previous two regular sessions, adding roughly $441 million to the company’s equity value.
Google Finance showed INOD at $72.80, up 4.04%, at about 7:02 a.m. EDT on Sept. 23. The stock jumped 14.61% on Tuesday to $69.97, following a 6.84% gain on Monday that lifted it to $61.05. INOD had closed at $57.14 on Sept. 18.
The latest acceleration came as investors weighed a Hunterbrook Media report that argued Innodata’s work for its largest customer could be connected to Meta’s Muse personal AI agent. Neither Meta nor Innodata has confirmed such a connection, and Hunterbrook said its conclusion was based on reporting and similarities between publicly disclosed projects, not on an announced partnership.
Based on Innodata’s reported 34,382,651 shares outstanding as of July 31, the company’s market capitalization increased from approximately $1.965 billion at the Sept. 18 closing price of $57.14 to about $2.406 billion at Tuesday’s $69.97 close. That represents an increase of roughly $441 million across the two sessions.
MarketWatch also lists approximately 34.38 million shares outstanding.
Trading activity accelerated alongside the price move. About 5.4 million Innodata shares changed hands Tuesday, more than four times MarketWatch’s 65-day average of roughly 1.28 million shares. INOD traded as high as $74.93 during the session before closing at $69.97.
#CryptoNewss
) shares extended a sharp rally in premarket trading Wednesday after rising 22.45% over the previous two regular sessions, adding roughly $441 million to the company’s equity value.
Google Finance showed INOD at $72.80, up 4.04%, at about 7:02 a.m. EDT on Sept. 23. The stock jumped 14.61% on Tuesday to $69.97, following a 6.84% gain on Monday that lifted it to $61.05. INOD had closed at $57.14 on Sept. 18.
The latest acceleration came as investors weighed a Hunterbrook Media report that argued Innodata’s work for its largest customer could be connected to Meta’s Muse personal AI agent. Neither Meta nor Innodata has confirmed such a connection, and Hunterbrook said its conclusion was based on reporting and similarities between publicly disclosed projects, not on an announced partnership.
Based on Innodata’s reported 34,382,651 shares outstanding as of July 31, the company’s market capitalization increased from approximately $1.965 billion at the Sept. 18 closing price of $57.14 to about $2.406 billion at Tuesday’s $69.97 close. That represents an increase of roughly $441 million across the two sessions.
MarketWatch also lists approximately 34.38 million shares outstanding.
Trading activity accelerated alongside the price move. About 5.4 million Innodata shares changed hands Tuesday, more than four times MarketWatch’s 65-day average of roughly 1.28 million shares. INOD traded as high as $74.93 during the session before closing at $69.97.
#CryptoNewss