Why China Jo-Jo Drugstores Shares Are Skyrocketing Today?

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  • China Jo-Jo Drugstores Holdings Inc CJJD stock is surging Wednesday morning following the termination of its previously announced equity offering.
  • The company had announced registered direct offering to issue 2.3 million shares and registered warrants to purchase up to 4.5 million shares to an institutional investor.
  • The purchase price for the equity offering was $3.10 per share.
  • The company had hoped to rake in $7 million in proceeds from the offering.
  • Price Action: CJJD shares are trading higher by 91% at $1.29 on the last check Wednesday.
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