New Jersey Gives Online Gambling The Go Ahead - Small Cap Stocks Ahead Of The Bell: Zynga Inc, Meru Networks, Swingplane Ventures, AMR Corp, Green Innovations
by PR Newswire
LONDON, February 28, 2013 /PRNewswire/ --
The markets capped a strong days trading across the board on Wednesday with the Dow climbing 175 points and NASDAQ higher by more than 1%. Zynga (NASDAQ: ZNGA) was one of the heaviest traded share volume movers on the NASDAQ in a heavily traded day across the board on the street. ZNGA was higher by 4.7% on a massive 85 million shares traded. New Jersey gave the nod to online gambling today in a move that is sure to be a positive for the stock going forward. Since the collapse of many gaming and poker sites back in 2005 this is sure to set solid precedence going forward for the online gaming industry.
Swingplane Ventures remained one of the top volume leaders in the small cap arena trading over $20 million in trading volume. Shares in SWVI did pull back around 25pcnt after rising in the previous 3 trading sessions. This is the second big slide we have seen in shares of Swingplane over the last week it remains to be seen if the volatility will continue.
Meru Networks (NASDAQ: MERU) had an active daytrading on Wall Street. Shares of MERU closed higher by 19% on $15 million in volume as they priced an underwritten public offering of 3.00 million shares of its common stock at a purchase price of $4.00 per share.
Shares in AMR Corptraded higher by 1% after being lower in the previous day's trading, the trading swings have been very tight in this name over the last few sessions with flat trading. The company is still trading extremely heavy volume compared to its normal trading average obviously due to the ongoing closing of its merger with US Airways. AAMRQ traded over $7 million today making it once again the largest volume trade in the over the counter market.
Green Innovations was back in play in the markets to close yesterday with shares rising 31% to close the day on heavy volume. The company had been a high flyer a few weeks ago trading ten times what it did in volume today.
It really goes to show that if you do your research there are substantial profits to be made trading over the counter stocks and in the case of AMR Corp even a company in bankruptcy has ended up becoming a positive winner for many traders.
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