Volume Spike Investor

Cree Inc. (NASDAQ: CREE) isn’t the normal trading alert stock in pre-market mornings.  But the company posted a 31% profit gain yesterday that exceeded most estimates from analysts.  More important were the comments on strong demand as the compounds and semiconductor materials maker has been having a rough time of late.

Shares closed yesterday at $19.17 and its 52-week trading range was $17.10 to $35.50.  Shares have only traded about 26,000 shares as of 9:13 AM EST, but the last trade was up at $20.49.  While the short interest fell 10% to 23.5 million shares at the end of July this is still representative of over 20-days to cover and more than 25% of the shares outstanding.

Jon C. Ogg
August 13, 2008