Why Is Binah Capital (BCG) Stock Up 93% Today?


  • Binah Capital (BCG) stock is rising on Thursday following its public debut.
  • The company combined with SPAC Kingswood Acquisition.
  • That brings with it heavy trading of BCG stock this morning.
BCG Stock - Why Is Binah Capital (BCG) Stock Up 93% Today?

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Binah Capital (NASDAQ:BCG) stock is taking off on Thursday following the debut of the wealth management company’s shares on the Nasdaq Exchange yesterday.

Binah Capital shares went public on Wednesday following a special purpose acquisition company (SPAC) merger with Kingswood Acquisition. That saw shares of the SPAC’s stock stop trading as the combined company switched to the BCG and BCGWW tickers for its stock and warrants.

Shares of BCG stock initially didn’t perform well when they went public yesterday. That saw the stock drop 20.8% during normal trading hours. It also only came with about 22,000 shares traded.

BCG Stock Movement on Thursday

However, things are changing for BCG stock today as investors have taken notice of it after the SPAC merger. That’s resulted in heavy trading of the company’s shares during pre-market hours.

As of this writing, more than 177,000 shares of BCG stock have changed hands. That’s quite the surge, considering its low trading volume during its public debut yesterday.

With this increased trading volume comes a rising price for BCG stock. That has the company’s shares up 93.2% as of this morning. This also erases the losses the company experienced in its public debut on Wednesday.

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

We have all of the hottest stock market news ready to go on Thursday! Among that is why shares of Avalo Therapeutics (NASDAQ:AVTX) stock are up, the biggest pre-market stock movers this morning and more. All of this is available at the following links!

More Stock Market News for Tuesday

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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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