Shares of Meade Instruments Corp. skyrocketed last week in its first trading session since the Irvine-based company announced it was set to be acquired for $4.5 million by the North American unit of Jinghua Optics & Electronics Co.
Investors sent shares up more than 102% in trading May 20 to a market value of $4.4 million.
Meade designs and manufactures telescopes, binoculars and microscopes for the consumer market. The company lost about $1.4 million on $21.5 million in revenues in its last fiscal year, which ended in February.
—Chris Casacchia
