Separately, Citigroup's Chronert also highlights several positives for small-cap stocks that investors may be ignoring. He notes that, in general, the one-, three-, and six-month forward returns from such declines have been positive. However, in this environment, anything is all but certain. "Nearer term, we expect stabilization, although the intermediate-term picture will likely remain clouded by the increased urgency to address both spending and revenue issues," Chronert writes. -- Written by Robert Holmes in Boston. >To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.
Shares of Global Traffic Network (Nasdaq:GNET) were gapping up Wednesday morning with an open price 21.4% higher than Tuesday's closing price. The stock closed at $11.67 yesterday and opened today's trading at $14.17.