Avalon Holdings’ stock rallies 32.5%, paring earlier gains of 97%

Avalon Holdings' stock rallies 32.5%, paring earlier gains of 97%

Avalon Holdings’ stock more than triples, after near five-fold surge the week before

Shares of Avalon Holdings Corp. rocketed to a more-than three-fold gain (up 230%) in premarket trade Monday, after the waste management company disclosed a large investment by MintBroker International Ltd. Avalon said in a filing with the Securities and Exchange Commission late Friday that Nassau-based MintBroker owned 1,922,095 Avalon common stock, which represented about 60% of the 3.19 million shares outstanding as of May 4. The disclosure comes after the stock ran up nearly five-fold last week, with stock closing Friday at $10.25 after closing the previous Friday at $2.21. A company spokesperson said, “no comment.” The shares have now run up 412.5% year to date, while the S&P 500 has gained 5.4%.

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