Palm, Star Scientific: Late Day Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Wednesday's session.
PURE Bioscience (PURE) continued to rally, jumping by $1, or 49.5%, to $3.03, one day after the company said it received U.S. Environmental Protection Agency registration for silver dihydrogen citrate, or SDC, based disinfectant and food contact surface sanitizer. Volume topped 13.85 million shares, compared to the 50-day average daily volume of 139,000, according to the Nasdaq.
Palm (PALM) surged by 77 cents, or 20.1%, to $4.62 after renewed market chatter of a buyout by PC maker Lenovo, according to several media reports. Volume topped 68.33 million shares, compared to the 50-day average daily volume of 22.38 million.
Star Scientific (CIGX) dropped by 37 cents, or 12.5%, to $2.58 even after the company announced a collaboration with Roskamp Institute on Beta-amyloid discovery and Alzheimer's Disease. However, traders noted that Star Scientific said the results of preliminary testing do not necessarily translate to human testing, and additional work needs to be completed to determine whether the compound will have significant B-amyloid lowering effects in humans. Volume topped 21.69 million shares, compared to the 50-day average daily volume of 3.33 million.Zale (ZLC) rallied by 62 cents, or 21.2%, to $3.55 after a Bloomberg report that the jewelry retailer is in talks with three finalists, including TPG and Golden Gate Capital, to take a stake in the company, citing to three people with knowledge of the situation. Zale may sell a minority stake for about $100 million to $150 million, two of the people told Bloomberg. Volume topped 5.26 million shares, compared to the three-month average daily volume of 2.21 million, according to Yahoo! Finance. -- 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.
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