Early Volume Plays Among Those Valued Below $10 (TIBB, NLST, SIRI)
Some of the stocks that are valued below $10 and have the potential to become one of the high volume movers in the early trading hours are:
TIB Financial (NASDAQ: TIBB), the parent company of TIB Bank and Naples Capital Advisors, has entered into an agreement with a group headed by Marty Adams, the former president of Huntington Bancshares Inc (NASDAQ: HBAN). The agreement is aimed at helping TIB raise $150 million in capital through an offering of the company’s common stock. The company can also issue new shares of mandatory convertible preferred stock. Shares of TIBB jumped 9.6%, to $0.7 in pre-market hours. The company has a 50-day average daily volume of 304,000.
Netlist (NASDAQ: NLST) announced on Friday that Viglen, the UK-based provider of IT solutions within the education and public sector, has selected NLST’s HyperCloud memory module to run on its servers. Viglen wanted its servers to support High Performance Computing (HPC) applications. Led by the news, shares of NLST jumped almost 30% on Friday. They continued to surge in today’s pre-market trading and climbed 14.3% to $2.80. Netlist’s 50-day average daily volume is 798,000.
On Friday, Morgan Stanley analyst David Gober initiated coverage on Sirius XM (NASDAQ: SIRI) stock without giving it any rating. "After completing the Sirius/XM merger, a refinancing of its balance sheet and weathering the recent recession, Sirius XM has emerged as a more stable company with several key opportunities," said the analyst. This initiation was followed by news of SIRI being added to the list of companies that will be added and deleted from the Russell 3000 and Russell Global index during the preliminary round of the index's annual reconstitution. The final membership lists will be released on June 28, prior to which updates will be announced on June 18 and June 25. In the pre-market session, SIRI jumped 2% to $1.03. It has a 50-day average daily volume of 112.27 million.
Read more from Benzinga's Markets.
Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.
