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Why Hollysys Stock Is Soaring Today

·2 min read
Why Hollysys Stock Is Soaring Today
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Shares of Chinese automation company HollySys Automation Technologies (NASDAQ: HOLI) jumped 30% higher on Tuesday after the company said it's weighing a second go-private offer. HollySys is a provider of automation hardware and software designed to make the industrial and transportation sectors more efficient and improve workplace safety. Last month, the company rejected an offer from CPE Consortium that valued it at $17.10 per share, saying that the offer undervalued HollySys.