Shiner International: Pump Up the Volume
HAIKOU, China ( TheStreet) -- Shiner International (BEST) shares rallied sharply higher Monday on heavy volume after the company announced that it had a entered into a contract with the largest meat product manufacturer in China.
Shiner International, which provides food-safe and anti-counterfeiting packaging, said it has entered into a new contract with Shineway Group. Shiner said the contact has the potential of contributing up to 4 million renminbi, or approximately $586,000, monthly to its coated food safe packaging sales.
Shares of Shiner International were jumping by 48 cents, or 34.3%, to $1.88. Earlier in the session, the stock touched an intraday high of $1.98. More than 986,000 shares changed hands in the first 30 minutes of trading Monday, compared to the stock's 50-day average daily volume of 221,000, according to the Nasdaq.
Shiner International has a 12.5 million-share float with a short interest float of only 0.1% as of Sept. 25, according to Yahoo! Finance. More than 48% of the company's shares are held by insiders with another 7% owned by institutions.Read more about today's high-volume stocks in earlier "Pump Up the Volume" posts. -- Written by Robert Holmes in New York.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV