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Why Is Crown ElectroKinetics (CRKN) Stock Up 25% Today?

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  • Crown ElectroKinetics (CRKN) stock is rising on a couple of pieces of news.
  • That includes a stock offering and upcoming shareholder vote.
  • The company’s shares are also seeing heavy trading on Wednesday!
CRKN Stock - Why Is Crown ElectroKinetics (CRKN) Stock Up 25% Today?

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Crown ElectroKinetics (NASDAQ:CRKN) stock is taking off on Wednesday following a few pieces of news traders will want to know about.

First off, Crown ElectroKinetics announced a stock offering from investor Keystone Capital Partners, LLC. This covers the sale of 75 million shares of CRKN stock from time to time. Crown ElectroKinetics notes it won’t see any proceeds from the sale of these shares.

In addition to that, Crown ElectroKinetics is also reminding investors to take part in a shareholder vote. The company will hold a shareholder meeting on Aug. 11. The company says the amendments being voted on are important to the continued listing of CRKN stock and the future development of the company.

CRKN Stock Movement Today

Investors will also keep in mind that CRKN stock is also seeing incredibly heavy trading on Wednesday. As of this writing, more than 38 million shares of the company’s stock have been traded. To put that in perspective, the company’s daily average trading volume is well below that at about 6 million shares.

Crown ElectroKinetics is a U.S. company that develops and sells optical switching films. These are films that change tints in light, like what can be seen on cars and commercial buildings. It currently has 16 employees and was founded in 2015. At that time, the company was operating under the name 3D Nanocolor. It changed to its current name in 2017.

CRKN stock is up 24.8% as of Wednesday morning.

Investors seeking more of the most recent stock market news today will want to keep reading!

We have all of the latest stock market coverage that traders need for Wednesday! That includes the biggest pre-market stock movers this morning, the latest news concerning shares of SoFi Technologies (NASDAQ:SOFI) stock, and more. All of that news is ready to go at the links below!

More Wednesday Stock Market News

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.

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