QXO, Inc. (QXO) shares jumped 20.01 percent on strong volume, rising $3.95 to $23.67 on Monday, after the company announced a major $1.2 billion investment commitment led by funds managed by affiliates of Apollo Global Management.
The investment will be made through a new series of convertible perpetual preferred stock and is designed to strengthen QXO's financial flexibility as it pursues acquisition opportunities.
QXO opened the session at $20.47, compared with a previous close of $19.72 on the New York Stock Exchange. The stock traded between $20.41 and $23.80 during the day.
Trading volume reached about 13.22 million shares, well above its average volume of roughly 7.12 million shares. QXO's 52-week range stands at $11.85 to $24.69.
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