Massey Price/Volume Surge on M&A Hope (MEE, ANR)

Posted in General 
November 5th, 2010

Massey Energy Co. (NYSE: MEE) has been more troubled than peers due to a mining disaster.  The company has reportedly been considering putting itself up for sale and headlines from the WSJ  that it is weighing an offer from Alpha Natural Resources, Inc. (NYSE: ANR) is sending shares higher on active volume.

Massey shares are trading up 11.77% at $47.18 on more than 250% normal trading volume of more than 10 million shares at 3:08 PM EST.  Keep in mind that the 52-week trading range is $25.85 to $54.80.

Alpha Natural Resources, Inc. (ANR) is now down almost 5% at $43.96 on nearly double normal volume of just under 4 million shares at 3:08 PM EST.

JON C. OGG

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