Volume Spike Investor

by H.S. Ayoub
Volume Spike Investor

Shares of Simclar Inc. (SIMC) gained almost 7% on Monday as volume more than doubled the 3-months daily average.

There were no news releases or other significant events that could be detected. The bulk of the volume surge happened near the end of trading.

Simclar is a contract manufacturer of electronic and electro-mechanical products primarily in the United States. It provides electronics manufacturing services to original equipment manufacturers in the data processing, telecommunications, instrumentation, and food preparation equipment industries.

The company has a very tiny market cap of only $82 million. According to Yahoo!Finance it carries $1.40 million in cash holdings but more than $24 million in debt. There are only about 1.7 million shares floating on the open market.

Shares of Simclar closed at $12.71, after making a new 52-week high of $12.76 during the day.

Simclar has made VSI Watch Alert List, and will be tracked for the next two weeks.

Source: VSInvestor.com
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