Synergy CHC Shares Surge Nearly 100% In After-Hours Trading: What's Going On?

Synergy CHC Corp. (NASDAQ:SNYR) shares surged nearly 100% in after-hours trading Monday following the company's latest regulatory filing with the Securities and Exchange Commission.

Company Overview

Synergy CHC Corp. is a U.S.-based consumer health and wellness company focused on building a portfolio of branded products across personal care, beauty and lifestyle categories.

The company's strategy centers on acquiring, developing and scaling niche health-focused brands with an emphasis on direct-to-consumer and retail distribution channels. Synergy CHC aims to drive growth through product innovation, brand positioning and expanded market reach across North America.

After-Hours Spike Follows S-8 Filing

The company filed Form S-8 to register shares under its 2024 Equity Incentive Plan, according to the April 13 filing.

An S-8 filing allows companies to issue shares to employees, executives and directors as part of compensation plans. In this case, the filing registers approximately 2.25 million shares of common stock.

Trading Metrics, Technical Context

Synergy CHC has a market capitalization of approximately $6.5 million, with a 52-week high of $4.08 and a 52-week low of $0.55.

The stock has declined sharply over the past year, falling nearly 68%.

Price Action

SNYR shares closed at $0.58 in the latest session before jumping to approximately $1.15 in after-hours trading, representing a gain of nearly 100%.

Benzinga's Edge Stock Rankings show that Synergy CHC Corp. is exhibiting a negative price trend across all time frames.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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