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Forge Global Holdings Inc. (NYSE:FRGE) shares jumped 53.14% in after-hours trading on Wednesday to $40.
Check out the current price of FRGE stock here.
The stock closed the regular session at $26.12, higher by 0.11%, on Wednesday, according to Benzinga Pro data.
The Financial Times reported on Wednesday that Charles Schwab Corp. (NYSE:SCHW) is nearing an agreement to acquire private share exchange Forge Global. The deal’s estimated value is $600 million.
California-based fintech Charles Schwab is reportedly expected to pay up to $45 per share for Forge Global.
According to the report, the transaction could be announced this week, although there is no guarantee it will be finalized.
The decision was taken shortly after Morgan Stanley (NYSE:MS) declared that it would acquire EquityZen, a direct rival of Forge Global.
Forge Global confirmed last week that it is in talks with multiple parties about a potential sale, but said no agreement has been reached.
The San Francisco-based company also announced it will report its third-quarter financial results on Nov. 14.
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Forge Global has gained 84.33% over the past year and 107.80% over the past six months.
The financial services platform’s stock has a 52-week range of $6.60 to $26.62 and a market capitalization of $355.27 million.
With a strong Momentum in the 92nd percentile, Benzinga’s Edge Stock Rankings indicate that FRGE has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
