SiRF Technology Holdings Inc. (NASDAQ: SIRF) has just made a mid-day mystery move on essentially no news. It seems that traders are tying it to the G1 phone launch from Google based upon an old press release. Unfortunately, even under the best case scenario this is already known. It was our understanding that the phone is being built by HTC with a Qualcomm baseband. This stock is frequently passed around in trader chat rooms, and that may be the biggest thing going for it today. Unfortunately, some of these low market cap stocks make mystery stock moves and sometimes on exaggerated or even old information. So far, that’s all this appears to be. When you add in that this was a former high-flier that crashed and burned, it doesn’t take much money to move the stock around. Even after a 10% rise today to $1.92, its 52-week trading range is $1.51 to $30.61. Shares briefly traded north of $2.00 on the sudden spike, and we haven’t been able to find anything new from the company itself to account for the move. As of 1:07 PM this has already traded 20% more than its full average daily trading volume.
Jon C. Ogg
September 24, 2008
Top Gaining Stocks
Top Losing Stocks