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Chandler, Arizona-based Insys had no immediate comment. Its shares closed up 7.6 percent at $7.36 on the Nasdaq. reuters

Hi, I am not sure what does "closed up 7.6 percent" mean here, especially "up".

Does it mean the shares end up increasing by 7.6 percent or to 7.6 percent?

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  • @ColleenV Yes. Thanks! – Mango Gummy Aug 5 '20 at 22:09
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This is more a question about terminology than English.

In trading, stock exchanges have set trading hours. For example the New York Stock Exchange trades from 09:30-16:00.

When financial reports say "shares closed at..." it is referring to their value at closing time.

So in your example:

Chandler, Arizona-based Insys had no immediate comment. Its shares closed up 7.6 percent at $7.36 on the Nasdaq

I understand that to mean that when trading closed, shares for Chandler were "up" (that is higher than when they began trading) by 7.6%.

To answer your last question: you would not write that shares went up to a percentage because that doesn't mean anything mathematically. A percentage is not an amount of money, so if I said something had "gone up to 7.6%" it is meaningless and you still don't know what it is worth. Saying "gone up by 7.6%" is a reference to its original monetary value.

I would say that grammatically it doesn't matter if you say "up by 7.6%" or omit the word "by" - but as we are talking about trading terminology the normal rules of English may not apply. I do not work on the stock market, but if your original quotation was lifted from a financial publication I would say that is normal to simply say "up 7.6%"

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