Why Is ClearOne (CLRO) Stock Up 70% Today?

ClearOne (NASDAQ:CLRO) stock is on the rise Tuesday after the video and voice network streaming solutions company announced a special dividend.

ClearOne is paying out a special one-time cash dividend of 50 cents per share to investors. This dividend is payable April 10, 2024 to shareholders on record April 2, 2024.

However, shareholders who sell shares before the April 10 payment date won’t receive the special dividend. This is due to it being more than 25% of the value of CLRO stock.

ClearOne CEO Derek Graham said the following about the special one-time dividend.

“We have decided to share this surplus with our shareholders, who continue to support the Company’s strategy and vision for future growth. We believe the company has an achievable plan to return to revenue growth and profitability.”

CLRO Stock Movement Today

Following today’s special dividend announcement, shares of CLRO stock are seeing heavy trading. That has more than 7.8 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 122,000 shares.

CLRO stock is up 70.1% as of Tuesday morning. The stock was down 17.7% year-to-date when markets closed yesterday.

Investors seeking out even more of the most recent stock market stories are in luck!

We have all of the hottest stock market news worth reading about on Tuesday! Among that is what has shares of Nukkleus (NASDAQ:NUKK) stock up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!

More Stock Market News for Tuesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed

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