What's Behind 44% Move in Three Days ?closes and volumes
Tuesday - 1.81 7000
Wednesday - 2.35 43000
Thursday - 2.61 12000
<< A beaten down stock can easily move 30% when the market reacts. >>
Agreed - but reacts to what in this case? Do the math and you see that you have a 44% jump in the share price from Tuesday - Thursday. That's huge by any measure yet there's no news that I'm aware of that caused the jump. There has to be something behind this. An item of concern though has to be the lack of volume in this sudden spike. I would have been much happier had the rise been accompanied by a surge in the volume. On the other hand, PNP is a very thinly traded stock so perhaps these figures are big volumes even for PNP.