Re: UNXL Update-New 52 Week High-I'm Back
in response to
by
posted on
Dec 08, 2012 07:17PM
Well, I said I wouldn't be back until it's trading at 10 and yesterday UNXL was up over 18% on news of a deal with a major computer manufacterer.
UNXL closed at 9.75 but then traded after hours at 9.99 and the ask is now 10.
More news is expected as they do more deals. So we have moved from about 5 to 10.
Average daily volume was around 50K shares per day, but it traded over a million shares yesterday and the company only has a grand total of 9.655 million shares outstanding with about half of that in the float. Institutions own about 45%.
Worth watching and was worth buying and I think this could be a $30-$60 stock in the coming year if these sort of deals continue hitting, and some have projected even higher levels.
With so few shares out it doesn't take a lot of volume to move this up.
1 million shares of UNXL trading is equivalent to EDIG trading 30 million in a day, for comparison. (300 mil shares vs 10 mil, or 30 fold)