Erayak Power Solution (RAYA) Stock Surges 49% After Hours: Here's What Is Happening
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Erayak Power Solution Group Inc. (NASDAQ:RAYA) shares surged 48.80% to $0.68 in after-hours trading following a $400,000 private placement disclosed in an SEC filing. The company issued up to 5 million Class A ordinary shares at $0.08 per share to non-U.S. investors. Despite this surge, the stock has dropped 99.83% over the past year and is close to its 52-week low, indicating ongoing pressure and elevated risk for investors.
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