TheStreet's Gavin Magor added that even at $3.39 a share, investors should have understood that Ambac is still a penny stock. Magor noted that the company still has a junk rating, adding that the 2009 results that people were trading on reflect the period before the OCI took action. For now, it may appear that Ambac may dodge a delisting by the NYSE, but that may be little consolation for anyone who bought Ambac for more than $3 a share only to see it finish out the week at $1.76. Encorium Group's ( ENCO) surge over the last three trading sessions is more puzzling than encouraging at first blush. The stock jumped more than 60% in the absence of any company-specific news, ending the week at $5.46. The sharp move higher began Wednesday, with Encorium climbing by roughly a dollar each day through the rest of the week. The surge -- which many traders and media outlets attributed to momentum trading -- is particularly surprising as it came a week after Encorium delayed the filing of its annual report as the company's independent registered accounting firm has not completed its audit of the company's financials. Looking at a recent history of the company, it's hard to understand why Encorium shares would rally 60% on no news. Shares had been stuck below $1 since September 2008, often trading for less than a quarter, until the company implemented a reverse stock split in February in order to avoid a delisting from the Nasdaq. Before the 1-for-8 reverse stock split took effect on Feb. 17, Encorium had warned investors that the stock's listing could very well be moved to the so-called pink sheets and would be subject to rules relating to penny stocks under the Securities and Exchange Act of 1934. Those requirements would make it more difficult to buy or sell our common stock in the open market. Encorium is also burning through cash at an alarming rate. In its last quarterly report for the three months ended Sept. 30, 2009, Encorium said it began the year with $5.7 million in cash and cash equivalents, ending the latest period with only $318,243. In the third quarter alone, Encorium burned through roughly half a million in cash, according to regulatory filings.