Flux Power turned down an offer, and the stock went up.
$FLUX is +23.05% before the bell on one headline: "Flux Power Rejects Unsolicited Proposal from Solidion Technology, Inc." The headline gives no price, no structure and no word on whether Solidion tries again. The concrete facts are a declined offer and a company worth roughly $10M.
A rejection proves someone was interested. It doesn't put a number on that interest. Premarket buyers are paying for a second act the board has just declined.
This is cross-stock history, not Flux's own. Across 5,520 past sessions that opened with a gap-up of 20% or more (price $1+), 62% closed below their own open and 37% closed above it. Flux has no qualifying prior gaps of its own to compare.
Same morning, other side of the table: #HXHX is -13.03% after announcing a "U.S. Logistics Acquisition Initiative as Part of North American Expansion." The would-be buyer with an "initiative" is lower, and the would-be target that said no is higher. Neither headline contains a signed deal.