Brilliant Earth Group ( NASDAQ: BRLT ) stock surged on Friday, rising over 20% shortly after the market open.
The 21.34% run for the San Francisco-based jewelry retailer comes on significantly above average trading volume. According to SeekingAlpha data, trading volume reached nearly 4 times its daily average in just the first hour of trading on the day.
Despite the surge, shares remain down over 60% since the start of 2022.
A week prior to the surge, the company filed for a $200M mixed securities shelf offering .
Dig into the company’s valuation .
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Brilliant Earth Group stock gains on unusual volume