Converge Technology Solutions Corp ( (TSE:CTS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Converge Technology Solutions Corp’s stock is on the rise following the company’s decision to amend its arrangement agreement with H.I.G. Capital, increasing the cash offer for its common shares to C$6.00 per share. The board chose this path over a slightly higher bid from another party, valuing the certainty and benefits of the H.I.G. deal, including the resolution of legal proceedings and halting third-party talks. This strategic move has influenced the stock’s valuation and market perception positively.
More about Converge Technology Solutions Corp
YTD Price Performance: 60.88%
Average Trading Volume: 1,424,428
Technical Sentiment Signal: Sell
Current Market Cap: C$1.03B
For further insights into CTS stock on TipRanks’ Stock Analysis page.
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