Chinese garment maker Addentax stock rallies 36% after hitting new 52-week low

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Chinese garment manufacturer Addentax Group (NASDAQ:ATXG) stock shot up 36% Wednesday, the day after it hit a new 52-week low.

Shares of Addetax, which uplisted its shares to Nasdaq in August, opened at $1.59, reaching a low of $1.53 in early trading and a high of $2.18 in early afternoon. The stock recently changed hands at $2.08 at approximately 1:45 p.m. ET.

Addentax held a $25M offering and uplisted its shares from the OTC market on Aug. 31, with shares closing at a 52-week high of $656.54 following their debut session on Nasdaq. The stock plunged 95% the next day and has been trending lower since, reaching a new 52-week low of $1.52 on Tuesday.

Incorporated in Nevada, Addentax provides services such as garment manufacturing, epidemic prevention supplies manufacturing and distribution, logistics and property management through subsidiaries in China.

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