Today's action was thanks to a lot of daytraders (I think) who were piling on all the small-cap stocks that have been momentum plays at one time or another this year. A paragraph from Briefing.com follows ... if you check the quotes on some of the stocks mentioned, you'll be amazed how much they went up (and back down) again today.
11:59 ET Internet Stocks:: Traders digging up some of the chart toppers from the April-May Internet frenzy. While these stocks are up big now, some traded at much higher levels earlier in the session. For example, the person(s) who purchased (and are still holding) Infonautics (INFO 6 13/16 +4 7/16, +186%) at its $10.50 intraday high have seen the stock retreat 35% on them. Other movers include: ICC Technologies (RRRR 3 13/16 +1 7/16, +61%), HomeCom Communications (HCOM 5 11/16 +1 3/4, +44%), Market Guide (MARG 9 1/16 +1 5/16, +17%), Sharper Image (SHRP 6 1/2 +2 7/32, +52%), Creative Computers (MALL 17 15/16 +4 9/16, +34%), 800 Travel Services (IFLY 5 1/2 +3/4, +16%). |
