WINDERMERE, Fla. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading near or under $10 a share don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.
Just take a look at some of the hot movers today in the under-$10 arena, including Affymax (AFFY), exploding up over 40%; Ever-Glory International (EVK), ripping over 33%; Central European Distribution (CEDC), ripping higher by 25%; and Pacific Sunwear (PSUN), up 15%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.
Pacific Sunwear is a name I just featured on Wednesday in "5 Earnings Stocks to Squeeze the Bears." At one point today, PSUN was up as high as $1.93 a share.
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