Some information on the recent activity in this stock:
On Sunday, April 27, this company was recommended by an Internet/e-mail based newsletter called Red Hot Stocks. (www.redhotstocks.com). I don't know whether there is a connection between that recommendation and the following information, but these are my observations.On the previous Friday, Apr 25, LCAV closed at 6 1/4. When I looked for the first time on Mon. April 28, about 6 minutes after the market opened, the ask was at 8 1/2 but the bid was still 7 1/2. Later in the day the spread closed to 1/2 point in the high 7s, but subsequently the stock traded down at 6 3/8. It finally closed at 7 1/8 with a 6 3/4 bid, 7 5/8 ask on 120,000 shares. Still quite a spread. Recent average daily volume looked to be in the 10-20K range. It has since closed at 5 3/4.
I don't own this stock, but I wrote this information down because I was interested in seeing what would happen after the recommendation. There is an interesting series of posts at the beginning of the AXPL thread #1, about the unusual movements in that stock immediately after a recommendation from Red Hot Stocks. |
