Deer Consumer Products: Friday’s Top Day Trader Stock (DEER)

Posted in pre-market 
December 11th, 2009

Deer Consumer Products, Inc. (NASDAQ: DEER) is a fairly new company as far as the stock market is concerned, and frankly one that has gone mostly unnoticed. It is a Chinese designer, manufacturer of small home and kitchen electric appliances.  The company priced a 6 million share secondary offering at $11.00 per share.  The net proceeds will be approximately $61,686,000 and are all being used by the company.  William Blair and BMO Capital Markets are the joint book-running managers and have an overallotment option for 900,000 shares.  As far as the stock, this one has traded from $5.09 to $18.97 and this has only traded on our charts since July-2009.  This stock is getting hammered because the $11.00 pricing compares to a Thursday close of $15.84.  At 8:19 AM EST we have seen 146,000 shares trade hands, and the stocks entire daily volume on normal days is only 132,000 shares.  This is THE stock to watch today for volatility traders.  NO STOCK OPTIONS EXIST (yet).

Jon C. Ogg

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