Volume Spike Investor

Standard Parking Corp. (NASDAQ: STAN) is trading lower this morning after reports came out last night that the company has a 6.59 million share secondary offering of common stock that  priced at $16.00 after closing at $16.93 on Monday.  The stock is being sold by holders and the deal was sold through Credit Suisse and William Blair.  The share count was also higher than the original 5.8 million shares indicated in teh first filing last week.  Shares are down 3.6% at $16.31 on over 100,000 shares as of 8:40 AM EST.  Average volume here is only about 30,000 shares, so this one is already exponential and the opening bell is almost an hour away.  The 52-week trading range is $13.66 to $20.54.  This might not be a household name with a $260 million market cap as of yesterday’s closing bell, but this one is already an exponential volume alert stock.

JON OGG