Top 5 OTC-BB and PinkSheets Market Movers
Smart Online Inc. (SOLN), CNB Financial Corp. (CFNA), XO Holdings Inc. (XOHO), AMB Financial Corp. (AMFC), and GuangZhou Global Telecom (GZGT) were among today’s top movers.
Smart Online Inc. [[SOLN.OB]] shares jumped nearly 40 percent as investors eyed a mysterious court order to withhold information from its next earnings report. Meanwhile, a number of new contracts could help propel the SAAS and e-commerce provider forward during its next earnings release. For now, investors pushed shares sharply higher as both events helped to fueled a rally.
CNB Financial Corp. [[CFNA.OB]] shares surged more than 160 percent after Berkshire Hills Bancorp, Inc. [[BHLB]] announced that they have signed a definitive merger agreement to acquire the company in a transaction valued at approximately $19.5 million. Under the terms, CNB shareholders will receive 0.3696 shares of Berkshire (worth approximately $8.50 when announced) for each share they own.
XO Holdings, Inc. [[XOHO.OB]] shares jumped 25 percent after it launched its service in Raleigh earlier this week. The expansion marks the company’s second network expansion within the North Carolina market, further positioning the company as a leading nationwide telecommunications provider for the region’s businesses and government agencies. Investors are hoping that this will help drive revenues and net income down the road.
AMB Financial Corp. [[AMFC.OB]] shares jumped more than 30 percent on heavy volume after a single large transaction. Company insiders had been purchasing shares earlier this month, and some are speculating that this purchase may be another insider making purchasing. Regardless, shares of the stock soared higher in mid-afternoon trading as traders and investors speculated.
GuangZhou Global Telecom, Inc. [[GZGT.OB]] shares soared more than 160 percent in heavy trading on no news. Technical traders are calling the event a breakout from its historic trading range, but there is no new fundamental data to justify the move. Regardless, traders helped push shares sharply higher in mid-afternoon trading.
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