Exponential Volume Spike: Synthesis Energy Systems (SYMX)

Posted in General 
June 20th, 2008

Synthesis Energy Systems, Inc. (NASDAQ: SYMX) is seeing a surge in early trading this Friday morning.  The company sold 10 million shares at $9.25 in a secondary offering.  This is after closing at $9.54 yesterday and its 52-week trading range is $6.56 to $15.92.  Before the offering its average daily volume was only about 50,000 shares and after a small gain of 3% to $9.83 its market cap is $358 million before any dilution from the deal.  After 8 minutes of trading this has already seen about 800,000 shares trade hands.  The volume here is going to likely be the leader as far as upside volume spikes are concerned, and with a secondary compared to normal volume it becomes easy to explain.

Jon C. Ogg
June 20, 2008

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