Low-priced stocks can often have active volume already, and quite often due to perhaps nothing more than their low share price when news is announced. 24/7 Wall St. already tracked the active short interest of low-priced cult stocks that we follow. Now we are evaluating several key volume spikes in what are considered to be some of the low-priced cult stocks.
Delcath Systems, Inc. (NASDAQ: DCTH) is one of the top losers on the day and shares have now given up all of yesterday’s gains. The stock is down over 9% at $1.93, and today’s 4.9+ million shares represents almost 3-times normal volume.
Glu Mobile, Inc. (NASDAQ: GLUU) is up strong on news that it has launched its real-money gaming platform in the U.K. Even after an 18% gain to $2.87, its market cap is a mere $18.5 million. What really stands out here is that the volume of 19.8 million shares is already about 12-times normal. The average volume is only 1.65 million shares per day and the prior 52-week high is $5.90.
Heckmann Corporation (NYSE: HEK) is up 11% to $4.12 on the day after posting a profit and showing a plan to change its name to Nuverra Environmental Solutions. The gain is still about $1 short of a 52-week for a $642 million market cap, but the 11.4 million shares is about 5-times normal trading volume.
OCZ Technology Group, Inc. (NASDAQ: OCZ) is surging after the company released news of getting a $30 million credit facility to help stabilize the solid-state drive maker’s drop and its books. The 18% ain to $2.05 is impressive, but the 6.02 million shares is already 3-times normal trading volume. The market cap here is now only $139 million and the company is deeply troubled to the point that some were questioning its survival.
Zynga, Inc. (NASDAQ: ZNGA) was up big yesterday on buyout hopes, but that is apparently being debunked today by Macquarie. Shares rose 10% to $3.93 on 90 million shares on Monday, and Tuesday has seen a drop of 5% to $3.73 with already some 61 million shares traded mid-day. The average volume is 32 million shares, and while this is only a 2-times normal volume spike it is unusual nonetheless.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.