What's Going On With Oblong Inc Stock?

Oblong Inc. OBLG shares are volatile Friday. The stock was up nearly 300% in premarket trading, though it has since retreated significantly. 

What To Know:

Shares of OBLG are moving on abnormally heavy volume Friday with more than 45 million shares already traded in the session. 

Friday's trading volume is more than 100 times greater than the stock's 100-day average of less than 369 thousand shares, according to data from Benzinga Pro. 

On October 6, 2023, Oblong Inc. and its preferred stock investors agreed to a waiver allowing the conversion or exercise of preferred stock and warrants only at a minimum price of $0.2792. 

As of Oct. 6, the company had 4,670 shares of convertible preferred stock outstanding.

Oblong Inc. delivers visual solutions for collaboration and computing environments. Oblong's flagship product, Mezzanine, is a digital platform that allows for simultaneous multi-user, multi-screen, multi-device and multi-location collaboration. 

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OBLG Price Action: According to Benzinga Pro, Oblong Inc. shares are up 10% at 32 cents at the time of publication.

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