PRICE/VOLUME SURGE: deCODE Genetics (DCGN)

Posted in General 
July 22nd, 2008

We just saw a sudden volume and price surge in shares of deCODE Genetics Inc. (NASDAQ: DCGN).  The culprit is a CNBC interview with a scientist around 12:45 PM EST.  At 12:46 PM EST we have seen a 24% surge in price to $1.70 on 550,000 shares.

Its average daily volume is only about 225,000 shares.  With this being a low market cap and thin volume stock you can probably add some of the spread between the bid and ask for some of that gain.

Its market cap is currently around $100 million.  While it has stock options, those options are hardly ever traded.

Jon C. Ogg
July 22, 2008

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