Kit Rebounds From Record Low in Prague to Highest in Three Weeks

Kit Digital Inc. (KITD), a maker of online video software, reversed an earlier drop to a record low in Prague trading to head for the highest price in three weeks.

The stock advanced 6.2 percent to 143.33 koruna as of 4:19 p.m. in Prague, set for the strongest close since March 22. Kit earlier tumbled as much as 19 percent to 110 koruna, the lowest intraday price since cross-listing its New York-traded shares on the Czech bourse in January 2010, after the company said Kaleil Isaza Tuzman, its non-executive chairman, resigned.

Kit’s U.S.-traded shares jumped 7.4 percent to $7.57 by 10:20 a.m. in New York.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net