This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sunesis, Taser: Midday Volume Plays

NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Wednesday's session.

Sunesis Pharmaceuticals (SNSS - Get Report) rallied by 49 cents, or 45.4%, to $1.57 in the absence of any company-specific news. Traders on Internet message boards noted a commentary from BioMed Reports, a commentary Web site specializing in penny stocks, that said any pullback in shares represents a buying opportunity. The writers, which said they did not hold positions in Sunesis, said that a partnership is "always a possibility" and that the dollar price "will prove to be a nice (re)entry point." Other traders argued that the movement in shares Wednesday was typical of "pumping and dumping" action. Volume topped 16.63 million shares, compared to the 50-day average daily volume of 5.58 million, according to the Nasdaq.

Taser International (TASR - Get Report) jumped by 81 cents, or 17.2%, to $5.51 after the company offered strong revenue guidance for the fourth quarter thanks to three large orders at the end of 2009 from the Brazilian Ministry of Justice and the Philadelphia and Chicago Police Departments. Taser said fourth-quarter revenue should be approximately $32 million, above the Thomson Reuters consensus of $28.7 million. Volume topped 4.51 million shares, compared to the 50-day average daily volume of 491,000.

Cleveland BioLabs (CBLI - Get Report) gained 20 cents, or 5.6%, to $3.75 after the company said it received the first U.S. patent for its radiation protection drug CBLB502. Last week, Cleveland Biolabs said it entered into a 50/50 joint venture, Incuron, with Bioprocess Capital Ventures, a Russian Federation venture capital fund, to develop its Curaxin compounds for cancer applications, sending shares higher. Volume topped 175,000 shares, compared to the 50-day average daily volume of 61,000.

China Direct Industries (CDII) surged by 52 cents, or 32.5%, to $2.12. The stock continued to fluctuate after Monday's news that China Direct reintroduced an annual forecast due to improved visibility, which helped shares rally higher by more than 30% before retracing those gains Tuesday. Volume topped 4.84 million shares, compared to the 50-day average daily volume of 332,000.

-- Written by Robert Holmes in Boston.

Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CDII $0.01 -7.69%
CBLI $1.93 -7.66%
SNSS $2.44 0.41%
TASR $31.87 -1.21%
AAPL $132.54 0.88%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs