Benzinga's Microcap Movers for Friday October 19, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Xinyuan Real Estate
Shares of Xinyuan Real Estate (NYSE: XIN), the China-based real estate developer, rose 10% Friday on 3 times average volume.
Bloomberg reported on Friday that Xinyuan Real Estate last month bought a 2-acre lot at 421 Kent Avenue in the Williamsburg section of Brooklyn, New York for $54.2 million. The lot on the Brooklyn waterfront, had plans for 200 residential units.
The deal is reportedly the first of its kind for a Chinese firm buying property in the U.S.
Xinyuan Real Estate closed at $3.08 on Friday.
PTS (OTC: PTSH), the Henderson, NV company, who through its subsidiary, Navistar Logistics (UK) Limited, provides logistics and supply chain management services in the United Kingdom, rose 516% Friday on 8 million shares.
PTS announced Friday the finalization of its merger with United Waste and Energy. With the finalization of the merger, PTSH intends to appoint new officers and directors. The Company also intends to resume its subscription to OTC Markets and commence filings of its financial statements, officers and directors CV''s and other relevant information. Although PTSH over the past endured several reverse splits, no such action is planned by the current management. Moreover, no additional common shares were issued in this merger. The merger was completed via complex preferred shares collateralization with financial assistance of an accredited investor.
PTS closed at $0.0037 on Friday.
Shares of Gulf Resources (NASDAQ: GURE), the China-based bromine producer and distributor, rose 13.33% Friday on 13 times average volume.
On October 16, 2012, Gulf Resources held its annual meeting of stockholders to vote on election of directors, ratification of independent auditors and executive compensation. Stockholders approved the compensation plan.
Gulf Resources closed at $1.36 on Friday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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