Clearone nasdaq Clro Stock Skyrockets 130 Whats Driving the Momentum

ClearOne (NASDAQ: CLRO) Stock Skyrockets 130% – What’s Driving the Momentum

ClearOne (NASDAQ: CLRO) stock skyrocketed 130% on Tuesday after it announced a special one-time cash dividend.

ClearOne (CLRO) has announced a significant move – a one-time special cash dividend of 50 cents per share of ClearOne’s common stock. 

This special dividend will be paid out on April 10 to shareholders of record as of April 2. However, there’s a catch: as the dividend exceeds 25% of the stock value, shareholders selling shares on or before April 10 won’t receive the special cash dividend for the sold shares.

Derek Graham, CEO of ClearOne, stated: 

“We have decided to share this surplus with our shareholders, who continue to support the Company’s strategy and vision for future growth. We believe the company has an achievable plan to return to revenue growth and profitability.”

Last month, Narsi Narayanan, the Chief Financial Officer of ClearOne (CLRO), stepped down from his role as an officer and employee on March 1, 2024. His departure was not due to any disputes with ClearOne but to take a new officer position at another company.

ClearOne (NASDAQ: CLRO) Stock Performance

CLRO stock shot up 127.55% to close at $2.06 on Tuesday. The traders had exchanged hands with 143,033,365 (143.03 million) shares compared to the average daily trading volume of 154.87K.