NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
DryShips (DRYS) dropped by 33 cents, or 5.1%, to $6.20 in the premarket session a day after the company increased the size of its convertible senior notes offering by $100 million to $400 million and announced an initial conversion price of $7.19 a share. The 50-day average daily volume for DryShips is 27 million, according to the Nasdaq.
Novavax (NVAX) dropped by 5 cents, or 13.3%, to $3.27 in the premarket session after the biotech company announced a share offering. The 50-day average daily volume for Novavax is 4.2 million, according to the Nasdaq.
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Netlist (NLST) added 23 cents, or 4.1%, to $5.90 in the premarket session propelling momentum related to the recent unveiling of its HyperCloud product, the first 16-gigabyte, 2 vRank memory module for computer servers. The 50-day average daily volume for Netlist is 1.6 million, according to the Nasdaq.ADC Telecommunications (ADCT) fell by $1.04, or 15.7%, to $5.60 in the premarket session a day after the network equipment company issued a disappointing first-quarter sales outlook on account of weak carrier spending. The 50-day average daily volume for ADC Telecommunications is 2.3 million, according to the Nasdaq. Golden Green Enterprises (CHOP) dropped by 56 cents, or 10.3%, to $4.89 in the premarket session a day after the cold-rolled steel company attributed sales that were 6% higher year-over-year at $59.3 million to lower prices on its products. The company anticipates fourth-quarter sales of $40 million to $50 million and net income of $8 million to $10 million, which doesn't include a non-recurring expense of $2.5 million related to its recent public offering. The three-month average daily volume for Golden Green Enterprises is 49,980, according to Yahoo! Finance. -- Written by Melinda Peer in New York. Check out all of Friday's high-volume, $5 stocks at the Dollar Store
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