Potential Volume Plays For March 5, 2010 (CNXT, BRCD, ZANE, NBIX, YMI)

Stocks priced below $10 and trading at above-average volumes today are:

Conexant Systems Inc (NASDAQ: CNXT) slipped 5.47% to $4.15 in the pre-market session, after the semiconductor company announced the offering price for 14 million common shares at $4 per share. While the average volume for CNXT is 2.81 million, 194,103 shares have already been traded since morning.

Brocade Communications Systems Inc (NASDAQ: BRCD) added 2.07% to trade at $5.93 in the pre-market session. While BRCD’s average volume is 32.08 million, 166,745 shares have already been traded.

Zanett (NASDAQ: ZANE) shares lost 11.79% in pre-market trading. The company had surged 580% yesterday, after it announced that it had booked new contracts worth $12 million during the first two months of 2010. More than 24,228 shares have already been traded, while the average volume stands at 280,000.

Neurocrine Biosciences (NASDAQ: NBIX) fell 11.73% to $2.30 after the company priced its offering of 9.1 million common shares at $2.20 per share. While NBIX’s average volume stands at 162,000, the number of shares that have already been traded exceeds 1.91 million.

YM BioSciences (NYSE: YMI) slipped 17.27% to $1.15 after the company said it will raise $15 million through a registered direct offering at a price of $1.20 per unit. Each unit consists of one common share and one half of one common share purchase warrant. While YMI’s volume has topped 5 million shares, its average daily volume stands at 229,000.

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