Kaixin shares surge 14.25% intraday after announcing $15M equity-funded acquisition.

Kaixin surged 14.25% intraday following news that the company unveiled a $15 million equity-funded acquisition, signaling a strategic move to bolster its business operations. The announcement, reported on December 3, generated immediate investor optimism, driving the intraday price increase. This development comes after a series of recent corporate actions, including a 1-for-30 share consolidation and exploration of AI and digital asset strategies, which have kept Kaixin in the market spotlight. The acquisition is expected to enhance the company’s operational footprint and reinforce its long-term growth prospects, aligning with the stock’s upward movement during regular trading hours.