China Armco Staying Volatile (CNAM)

Posted in Uncategorized 
March 8th, 2010

China Armco Metals, Inc. (NASDAQ: CNAM) is still seeing elevated stock trading.  Due to a recent bump up, its average share volume is 426,000 shares.  But that was lower before the volume and prices shot through the roof last week. And today we are still very active with a 4.6% gain to $10.04. Here are last week’s big moves:
DATE  Shares Traded Close
5-Mar  7,633,600. $9.60
4-Mar  7,119,800. $8.50
3-Mar  685,200… $5.30

The 52-week trading range was moved higher as shares hit a high of $11.10 on Friday.  Today’s intraday high was $10.75.  Because this stock is sometimes included in with the ‘rare earth’ stocks and is small cap and in China, we are not even going to try bothering to note that its high has not been violated nor that it might not hold.  With a $100 million market cap, any contract can greatly influence the shares.  That is what caused last week’s run.


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