YRC Worldwide Stock Jumps to $13 Per Share

YRC Worldwide’s stock price jumped above $13 a share Monday morning, opening at $13.34 per share after climbing from $9.25 to $12.70 per share Friday.

The stock surged after the $4.3 billion trucking company completed a reverse stock split Dec. 2 that eliminated billions of shares of stock created in a restructuring. The 1-for-300 reverse stock split lifted YRC Worldwide’s per share price from about 3 cents Thursday afternoon to more than $9 a share Friday morning.

The per share price broke through the $14 ceiling briefly Monday morning, before dropping back into the $13 per share range by mid-morning. If YRC can keep its per share value above $1 it will avoid delisting by Nasdaq, which requires member companies to maintain that minimum per share value.

Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc