Acorn International Gives Up Gains

NEW YORK ( TheStreet) -- Acorn International ( ATV), Chinese direct-to-consumer retailer, lost a bit of the massive gains Friday that it had acquired the previous day.

On Thursday, Acorn -- which sells products on television, much like a Chinese version of QVC or Home Shopping Network, as well as through catalogs and other outlets -- received a massive 31% boost to end the day at $5.34.

Shares in the company had jumped after coverage was initiated on the company by Roth Capital with a buy rating, allowing it to top New York Stock Exchange's list of biggest advancers on Thursday.

But the company is currently off 3.5% Friday morning to $5.15.

Acorn sells about 700 products, including cell phones, health and wellness products, household and beauty and stock tracking software.

-- Reported by Jeanine Poggi in New York

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