Avid Technology jumps after Reuters reports company exploring sale

Avid Technology

24/05/2023 18:58

** Shares of Avid Technology  AVID.O  shot up in afternoon
trading Wed after Reuters reported, citing people familiar with
the matter, that the media editing software vendor is exploring
a potential sale
    ** The stock was last up 17.7% at $24.09 and on track for
its biggest daily percentage gain since November 2021
    ** Trading volume was nearly 5x the 10-day moving average
volume
    ** Including the session's move, the stock was down about
10% for the year to date

 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))