Why Quhuo Shares Are Skyrocketing Today

Quhuo Ltd - ADR QH shares are trading higher by 17.82% to $3.24 during Monday's pre-market session after the company on Friday said it has determined not to proceed with its proposed offering and sale of securities.

Quhuo says the original Registration Statement was not declared effective and none of the company’s securities has been issued or sold pursuant to the Registration Statement.

The company says Quhuo is withdrawing the Registration Statement on grounds that the withdrawal of the Registration Statement is consistent with the public interest and protection of investors, as contemplated by paragraph (a) of Rule 477 of the Securities Act.

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According to data from Benzinga Pro, Quhuo has a 52-week high of $31.40 and a 52-week low of $2.54.