Quidan stock soars after $200 million stock repurchase program tops market cap

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The U.S. listed-shares of Quidan Inc. QD, -11.16% soared 26.2% in premarket trading Tuesday, after the China-based online consumer finance company announced a $200 million stock repurchase program. The new program is more than the Quidan’s market capitalization of $182.7 million as of Monday’s closing prices, according to FactSet. The stock has run up 14.3% over the past three months through Monday, while the Invesco Golden Dragon China ETF PGJ, -6.85% has hiked up 32.7% and the S&P 500 SPX, -3.88% has dropped 10.2%.

This article was originally published by Marketwatch.com. Read the original article here.

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