Joining Aligo Integrity Alliance Sent SkyPeople Fruit Juice Shares Up 20%

SkyPeople Fruit Juice Inc SPU started off the week trading at levels its stock hasn't seen since February after the company announced it had entered into an agreement with China Aigo O2O Technology, a consumer electronics giant looking to become "the Sony or the Samsung of China."

Price Action

SkyPeople shares opened 12 percent higher following the news, eventually moving as high as $6.88 early in Monday's market session. The company is no stranger to volatility; last summer, the issue rose more than 500 percent amid M&A talk, and many market participants view it as a frequent pump and dump target.

Unusual Interest

Though the stock normally trades an average of less than 50,000 shares per day, by midday Monday over 650,000 shares had changed hands. Short interest in the stock stood at 10.04 percent of its small 1.7 million share float.

Details Of The Deal

As part of the one-year business pact, SkyPeople Fruit Juice, a holding company that deals in sales of juice concentrates and purees, will join the Aigo Integrity Alliance. The Alliance is Aigo O2O Tech's most valued subsidiary, a platform that helps counteract counterfeiting by allowing consumer s to check whether a product is genuine.

SkyPeople Fruit Juice stock remained 20.28 percent higher at $6.05 early Monday afternoon.

Related Link: SkyPeople's Long-Awaited, Much Debated Annual Report Just Released