Why ION Geophysical Stock Traded Higher During Wednesday's After-Hours Session

ION Geophysical IO shares are trading higher after the company announced it initiated a review of strategic alternatives.

According to the press release, the strategic alternatives include, among others, a sale or other business combination transaction, sales of assets, private or public equity transactions, debt financing, or some combination of these.

ION Geophysical Corp is a United States-based technology-focused company, which provides geoscience products, services, and solutions to the global oil and gas industry. The company operates through two segments: E&P Technology & Services and E&P Operations Optimization. 

At last check, the stock was trading 18.8% higher at $1.77 per share. The stock has a 52-week high of $5.35 and a 52-week low oof $0.98.