03:20 PM EDT, 04/09/2024 (MT Newswires) -- Gaucho Group Holdings ( VINO ) shares rose more than 9% in recent Tuesday trading after the company said it will streamline operations and cut costs to yield about $1.5 million in expense savings over the next 12 months.

The company said it will eliminate certain functions and offshoring others to its offices in Argentina.

Gaucho said the restructuring is also aimed at maximizing the potential of its Argentina operations, particularly in luxury property.

Price: 0.52, Change: +0.05, Percent Change: +9.67