Why Did Forge Global Stock Rocket 66% Pre-Market Today?
Synopsis
Charles Schwab has agreed to acquire the company in a deal valued at roughly $660 million.
- Charles Schwab has agreed to acquire Forge in a deal valued at roughly $660 million.
- Under the agreement, Schwab will purchase all outstanding shares of Forge for $45 each in cash.
- Forge operates one of the leading platforms for buying and selling shares in private companies.
Forge Global Holdings Inc.(FRGE) stock skyrocketed over 66% in Thursday’s premarket after Charles Schwab Corp. (SCHW) agreed to acquire the company in a deal valued at roughly $660 million.
Under the agreement, Schwab will purchase all outstanding shares of Forge for $45 each in cash.
Strategic Expansion Into Private Markets
Forge operates one of the leading platforms for buying and selling private company shares, facilitating over $17 billion in transactions to date.
The company connects qualified investors with opportunities in private markets through its trading system, data tools, and private company solutions. It also plans to launch interval funds, making private market investing more accessible with lower minimums.
On Stocktwits, retail sentiment around Forge stock jumped to ‘extremely bullish’ from ‘neutral’ territory the previous day amid ‘extremely high’ message volume levels.
Get updates to this developing story directly on Stocktwits.<
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