NEW YORK (TheStreet) -- Several small-cap stocks were moving on above-average volume during Monday's session.
Qiao Xing Mobile Communication (QXM) jumped by 37 cents, or 16.2%, to $2.65 in the absence of any company-specific news, two session after reporting second-quarter results. Investors posting on Internet message boards noted an MSN Money article that called Qiao Xing a great play under $5 for those looking to cash in on expectations that economic growth in China will mean more people joining mobile networks. Volume topped 600,000 shares, compared to the three-month average daily volume of 70,000, according to Yahoo! Finance.
YRC Worldwide (YRCW) plummeted by 37 cents, or 16.2%, to $2.65 after the company said its exchange offer, with full participation, would see noteholders exchange approximately $536.8 million in notes plus accrued and unpaid interest for shares of common stock and new class A convertible preferred stock. Together on an as-if converted basis, it would represent 95% of YRC Worldwide's common stock. In separate news, RBC Capital Markets said in a research note that the firm believes the stock has no value and therefore their price target is zero. Volume topped 32 million shares, compared to the 50-day average daily volume of 10 million, according to the Nasdaq.
LDK Solar (LDK) lost 37 cents, or 16.2%, to $2.65 after Q-Cells (QCE), one of the world's largest makers of solar cells, terminated a supply agreement with the company. Q-Cells said LDK did not fulfill "significant contractual obligations" with regard to the supply agreement concluded in 2007. Volume topped 7 million shares, compared to the three-month average daily volume of 3.2 million, according to Yahoo! Finance.GTx (GTXI) tumbled by 37 cents, or 16.2%, to $2.65 after the Food and Drug Administration rejected acapodene, asking GTx for additional clinical data on the drug's efficacy and safety as well as proof that treatment with the drug does not cause prostate tumors to grow or shorten a patient's overall survival. Volume topped 4 million shares, compared to the 50-day average daily volume of 468,000, according to the Nasdaq. -- Written by Robert Holmes in New York. Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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