Benzinga's Small Cap Movers for Monday January 28, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Glu Mobile (NASDAQ: GLUU), the San Froncisco, CA mobile game developer, rose 15% Monday on 3.5 times average volume.
Insiders have been buying shares in Glu Mobile as the stock has traded near the 52-week low.
Glu Mobile closed at $2.65 on Monday.
Shares of FreeSeas (NASDAQ: FREE), Athens, Greece-based drybulk shipping company, rose 35% Monday on 4.5 times average volume.
FreeSeas strength Monday most likely was due to the recent strength in another Greek shipping company, NewLead Holdings.
FreeSeas closed at $0.27 on Monday.
Shares of Novatel Wireless (NASDAQ: NVTL), the San Diego, CA provider of intelligent wireless networking solutions, rose 13% Monday on 3.5 times average volume.
Novatel announced Monday that its MT 3050 device has received technical approval from Verizon Wireless (NYSE: VZ). The MT 3050 is a mobile tracking OBD-II device which reduces up-front costs for insurance telematics and fleet management applications with easy, plug-and-play installation and industry-leading small form factor. The new MT 3050 also features integrated disconnect alert supported by an in-device backup battery.
Novatel Wireless closed at $1.74 on Monday.
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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