Stock Alert: Eventbrite Climbs 16%

(RTTNews) - Shares of Eventbrite Inc. (EB) are rising more than 16 percent or $1.05 in Monday's morning trade at $7.47 despite no stock-specific news.

The stock has traded in a range of $27.55 to $64.34 in the past 52 weeks. Last Tuesday, Eventbrite, while reporting wider loss for the first quarter, said ticket sales have improved from the March low-point, driven by online events and small gatherings. The event-management services company also said it secured financing with Francisco Partners of up to $225 million.

U.S. stocks are surging higher on Monday, with the upward momentum partly reflecting optimism about a coronavirus vaccine after biotech company Moderna's early-stage human trial for a vaccine produced antibodies in all 45 participants. Renewed optimism about an economic recovery also lifted the stocks.