Stock Alert: Luby’s Shares Spike Over 101%

Shares of Luby’s Inc. (LUB) are surging over 95% Tuesday morning, after the company announced that its Board has approved and adopted a plan of liquidation and dissolution that provides for the sale of the company’s assets and distribution of the net proceeds to the company’s stockholders, after which the company would be dissolved.

LUB shares, which have been trading in the range of $0.46 – $2.65 for the past one year, are currently trading at $2.11, up $1.06 or 101.89% in Tuesday’s regular trading session.

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