Redbox Entertainment Inc (NASDAQ:RDBX) shares are trading higher on above-average volume Monday amid increased retail investor interest.
Redbox’s average session volume is about 5.1 million over a 100-day period, according to data from Benzinga Pro. Monday’s trading volume has already exceeded 24 million at publication time.
Redbox was the top trending stock on Stocktwits at last check. The stock has seen increased retail investor interest since the company announced a CFO transition last week.
Last Thursday, Redbox disclosed that it received access to a line of credit worth $50 million in a regulatory filing with the U.S. Securities and Exchange Commision.
According to the filing, Redbox entered into a Voting and Support Agreement to gain access to the additional capital through its previously announced credit agreement with HPS Investment Partners. The stock has experienced increased bouts of volatility following the announcement.
RDBX Price Action: Redbox has traded between $1.61 and $27.22 over a 52-week period. It was halted for volatility twice on Monday morning.
According to data from Benzinga Pro, the stock was up 43.6% at $8.59 at press time.
Photo: saaby from Flickr.
