Creative Media shares rise 34.48% intraday after closing $44.9M lending division sale.

Creative Media (NASDAQ:CMCT) surged 34.48% intraday after announcing the completion of a $44.9 million sale of its lending division to PG FR Holding, LLC. The transaction, which generated net cash proceeds of $31.2 million, aligns with the company’s strategy to strengthen its balance sheet and liquidity while focusing on growth in its multifamily portfolio. The deal’s immediate financial impact and strategic clarity likely drove the sharp intraday rally. The second news event, regarding BarkleyOKRP’s executive hire, is unrelated to Creative Media’s business operations and does not influence the stock’s movement.