Volume Spike Investor

Tower Semiconductor Ltd. (NASDAQ: TSEM) gave guidance just on August 12, but this morning it is raising that guidance on record revenue due to increased customer demand. It now expects third quarter revenue to be between $77 million and $80 million.  This is above a mid-range representing a 30% increase from previous quarter revenues of $60.6 million and a 34% increase year over year.  The company calls this record revenue. As of 8:22 AM EST we have seen 390,000 shares trade hands versus average volume of over 600,000 shares for a full day.  The interesting notion is hat the move is only up 2% at $1.06 after a $1.04 close yesterday.  This is surprising considering the appetite from traders over low-priced shares.  The 52-week high is $1.49 and the most active day in the last 90-day period was just over 2.3 million shares on August 31… -JON OGG