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Blonder Tongue Comments On Stock's 300% Move

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Blonder Tongue Comments On Stock's 300% Move

Blonder Tongue Laboratories (NYSE: BDR) shares spiked 300% higher on Wednesday and nobody seems to know why.

The company, which has a $32 million market cap, commented on the trading activity, saying it knows of no reason for the recent increase in the price and trading volume of its stock.

There have been no material developments or change in circumstances with respect to the company's ongoing business activities since Blonder Tongue Laboratories issued its second-quarter earnings release on Aug. 7.

Blonder Tongue Laboratories is a technology-development and manufacturing company that provides television signal encoding, transcoding, digital transport, and broadband product solutions in the United States. The company serves the multi-dwelling unit market, the lodging/hospitality market and the institutional market, including hospitals, prisons, and schools.

Blonder Tongue’s stock traded up 340.73% at $3.35 per share at the time of publication on Wednesday. The stock has a 52-week high of $3.80 and a 52-week low of 38 cents.

 

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