Why Shares of USA Technologies Are Surging Today
Shares of USA Technologies (NASDAQ: USAT) were up more than 12% on Tuesday -- following a drop of more than 10% on Monday -- after a high-profile fund increased its stake in the networking and cashless-transaction company. USA Technologies still appears to be headed for a de-listing, but the buy-in provides at least some hope.
Shares have been under pressure for about a year, weighed down by accounting issues. The company's auditor, RSM, resigned in February, and USA Tech's board at that time warned that some financial statements and related press releases were not reliable.
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Source Fool.com
