Benzinga's Small Cap Movers for Thursday December 13, 2012
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of AVT (OTC: AVTC), the Corona, CA automated retail solution manufacturer, rose 89% Thursday on 93 times average volume.
AVT announced Thursday that December 12, 2012, was the single largest trading day for their stock in the company's history. Over 210,000 shares traded, and the stock soared up 52%. The heavy volume and large surge in the stock price comes amidst news that the company reported significant increases in revenues for 3rd quarter, and that several new manufacturing and development deals have been inked with major customers.
One of AVT's customers, Medbox, Inc. (OTC Markets: MDBX), announced their new and vastly expanded product line for 2013, and named AVT as their exclusive manufacturing partner. The Medbox announcement stated, "We are pleased to have entered into development and manufacturing agreements with AVT that will allow us to meet our aggressive production orders, as well as expand into new markets with technologies and systems that are significantly ahead of any competition," stated Bruce Bedrick, CEO of Medbox, Inc. "AVT has been working with Medbox since 2010, and is considered a vital business partner."
AVT closed at $4.07 on Thursday.
Shares of Dex One (NASDAQ; DEXO), the Cary, NC marketing solutions provider, rose 24% Thursday on 4 times average volume.
Dex One announced Monday that it had received notification on Dec. 4, 2012 from the New York Stock Exchange that its average closing share price was below the Exchange's minimum continued listing standard of $1.00 per share over a consecutive 30 trading-day period. Dex One notified the NYSE that it will take steps to cure this deficiency. As part of its previously announced merger plans, Dex One will initiate a 1 for 5 reverse stock split as part of the transaction to address the NYSE's $1.00 share price continued listing standard.
Dex One closed at $1.65 on Thursday.
Shares of Aastrom Biosciences (NASDAQ: ASTM), the Ann Arbor, MI developer of patient-specific, expanded multicellular therapies for use in the treatment of patients with severe, chronic cardiovascular diseases, rose 13% Thursday on 4 times average volume.
Aastrom Biosciences announced Wednesday that the company's board of directors had named Dan Orlando interim CEO of Aastrom. Mr. Orlando, who joined Aastrom as chief commercial officer in August, will assume the position of interim CEO effective December 14, 2012. Aastrom's president and CEO Tim Mayleben is retiring but will remain an active member of the company's board of directors. Mr. Mayleben will continue to support the transition to a permanent CEO at the company for which a search is ongoing.
Aastrom Biosciences closed at $1.49 on Thursday.
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