Big Tree Cloud (NASDAQ:DSY) stock is soaring higher on Monday as the Chinese personal care products and consumer goods company completes its special purpose acquisition company (SPAC) merger with Plutonian Acquisition.
Big Tree Cloud closed its merger with Plutonian Acquisition last week and that resulted in the company’s shares making their public debut on Friday. These trade under the DSY ticker with warrants trading under the DSYWW ticker. However, that didn’t attract investor attention with the stock only gaining 3.3% when markets closed that day.
Big Tree Cloud founder, chairman and CEO Wenquan Zhu said the following about the company going public:
“We have achieved solid progress since our inception in 2020, and we are excited about the growth opportunities for enhancing personal and hygienic care for families in China and globally. Our Nasdaq listing will expedite our mission to provide premium personal care products and diversify our product portfolio.”
DSY Stock Movement on Monday
With Big Tree Cloud stock going public, the company’s shares are experiencing heavy trading on Monday morning. This has more than 5 million units on the move as of this writing. That’s a massive surge in trading volume compared to the 399,000 shares that traded on Friday.
DSY stock is up 96.3% as of Monday morning.
Investors will want to keep reading for more of the latest stock stock market stories today.
We have all of the hottest stock market news that traders need to know about on Monday! That includes the biggest pre-market stock movers this morning and more of the latest stock market happenings. You can get into all of that down below!
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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.
