Impac Mortgage issues "no comment" on stock jumpThe Associated Press
NEW YORK -- Impac Mortgage Holdings Inc. said Monday it has no comment on "unusual trading activity" that saw the company's share price rise 15 percent.
The Irvine, Calif., company said the New York Stock Exchange informed it about the trading activity and asked it to make a statement. Impac said it has no comment on any market rumors or speculation related to the trades.
On Monday the company's shares jumped $1.88, or 15.3 percent, to $14.21. Volume of just 304,000 shares was about 24 percent higher than normal trading, according to FactSet.
Impac stock began the year at $2.01 and began to climb significantly in mid-August. It reached a high of $18 on Nov. 12.