Mesoblast Ltd's stock surged 6.73% during Monday's intraday trading session, following a significant corporate development.
The sharp rise comes after the company disclosed that JPMorgan Chase & Co. and its affiliates have become a substantial holder, acquiring 65.2 million shares representing 5.05% of the voting power.
This move by a major financial institution is seen as a vote of confidence in Mesoblast, likely driving increased investor interest and buying pressure in the stock.
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