Taseko Mines, FortuNet: Midday Volume Plays
(Updated with price moves.)
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Friday's session.
Taseko Mines (TGB) rallied by 62 cents, or 14.2%, to $4.98 after the company said it has received the environmental assessment certificate approval for its proposed Prosperity Gold-Copper Project from the British Columbia Provincial Ministry of Environment. Volume topped 6.7 million shares, compared to the three-month average daily volume of 2.7 million, according to Yahoo! Finance.
FortuNet (FNET) jumped by 53 cents, or 31.7%, to $2.21 after Yuri Itkis Gaming Trust launched a tender offer to purchase all of the outstanding share of FortuNet it does not already own for $2.25 a share in cash. Volume topped 388,000 shares, compared to the three-month average daily volume of 29,000.PFSweb (PFSW) surged by $1.07, or 61.1%, to $2.82 after the company and Procter & Gamble (PG) jointly announced that they will begin piloting the eStore, an online shopping site that will be owned and operated by PFSweb and exclusively feature P&G products to consumers in the U.S. Volume topped 619,000 shares, compared to the three-month average daily volume of 17,000 Vantage Drilling (VTG) slid by 16 cents, or 9.6%, to $1.50 after the company announced a common stock offering of 27.1 million shares, with the proceeds set to be used as working capital and for general corporate purposes. Volume topped 2.07 million shares, compared to the three-month average daily volume of 896,000, according to the Nasdaq. -- Written by Robert Holmes in Boston. Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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