Ekso Bionics Holdings, Inc. (EKSO) witnessed a remarkable surge in its stock price, soaring 102.93% to close at $11.08, a significant increase of $5.62. This dramatic rise comes on the heels of Applied Digital’s announcement to spin off its cloud business, which investors interpreted as a potential opportunity for Ekso and its affiliates to realize greater value.
Following the news, EKSO shares opened at around $5.46, peaking at an intraday high of $11.20 before settling at the closing price. The stock reached a low of $5.40 during intraday trading, showing volatility that is characteristic of such market reactions. Ekso Bionics trades on the Nasdaq, where trading activity surged, significantly surpassing the usual daily trading volume. This heightened activity reflects a robust interest from investors regarding the restructuring efforts proposed by Applied Digital.
Ekso Bionics has experienced a notable fluctuation over the past 52 weeks, with stock values ranging from approximately $2.90 to $11.20. The spinout of Applied Digital’s cloud segment could lead to a more streamlined operational focus and enhanced capital allocation, potentially benefiting Ekso and creating further opportunities for growth in the future. Investors are closely watching these developments, hopeful for positive outcomes in the evolving landscape of this technology sector.