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Insignia Systems Shares Surge As Company Explores Strategic Alternatives -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — The shares of the consumer packaged goods and retailer marketing agencies Insignia Systems Inc (NASDAQ:), has seen shares rise after it announced that it will begin a formal procedure to examine strategic options for maximising shareholder value.

Insignia shares rose by more than 179% on Monday due to heavy volumes. 

According to the company, investors have several options: an acquisition or merger, business combination, and in-licensing.

According to the Minnesota-based firm, there’s no set time for completion. Chardan was appointed to serve as strategic financial adviser.

Insignia saw a decrease in net sales of 21.2% to $3.5million in the third-quarter 2021. This is down from $4.4million in 2020. However, its net loss has increased to $921,000, from $886,000 in 2018. 

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