Rubico Shares Surge Before Market Open on Volume Spike
Rubico Inc shares jumped 127.75% to $3.94 in U.S. premarket trading Tuesday, with volume surging to 34.04 million shares versus an average of 95,000. The move followed a May 8 SEC filing for a proposed unit offering with warrants, which could price below market. No new earnings report was released. Rubico operates two Suezmax crude-oil tankers and recently completed a one-for-10 reverse stock split.