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.
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