Trading Color on Universal Display (PANL)

Posted in General 
October 8th, 2009

Universal Display Corp. (NASDAQ: PANL) saw a major volume spike late yesterday.  The move was on no news, but it was after a portfolio manager touted the stock and its OLED patent portfolio on CNBC late in the afternoon.  News hit after the close that Universal Display was awarded two new U.S. Department of Energy SBIR Phase I Grants for white phosphorescent OLED lighting programs to demonstrate further advances in white OLED power efficiency and a cost-effective permeation-barrier system.  But the stock’s move was after the tout on CNBC.  This rose on volume of 1,253,200 shares yesterday to $12.51 after closing at $11.82 on Tuesday.  Average volume is only 190,000 shares or so and the 52-week trading range is $4.86 to $12.92.  Right at the open we see shares up 1% at $12.64 on almost 30,000 shares.   We’d be keeping an eye on this one for some give-back if the gains do not hold up that well after the open.   -JON C. OGG

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