CompuCredit (CCRT) Surges Over 10 Percent on Buyback

The announcement by CompuCredit Corp. (NASDAQ:CCRT) that it has offered to buyback shares resulted in the company share price soaring by over 10 percent.

CompuCredit said it has offered to purchase back as much as 13.1 million shares at $8 a share.

CompuCredit closed Tuesday at $6.93, up $0.66, or 10.53 percent. That's the highest level it has traded at since the early part of October.