Muscle Maker Grill’s stock rockets on heavy volume, with no news announced

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Shares of Muscle Maker Inc. rocketed 41% on heavy volume in premarket trading Monday, enough to make the restaurant chain’s stock the most actively traded ahead of the open. Trading volume was 8.3 million shares, compared with the full-day average of about 454,000 shares. There were no filings or news released from the company Monday, and the did not respond to a request for comment. The last news announced from the company was before Friday’s, when it announced the acquisition of one of its previously franchise-owned locations in New York City; the stock has closed unchanged the past two sessions. The stock, which closed at a record low of $1.38 on Sept. 25, has lost 31.7% over the past three months through Friday, while the S&P 500 has gained 7.8%. The stock went public on Feb. 13.
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