Top 5 OTC-BB and Pinksheets Market Movers
GeoVax Labs, Inc. (GOVX), Puda Coal, Inc. (PUDC), Argyle Security, Inc. (ARGL), Cord Blood America Inc. (CBAI), and China Marine Food Group Ltd. (CMFO) were among today’s top movers.
GeoVax Labs, Inc. [[GOVX.OB]] shares plummeted nearly 25 percent after it announced Chuck Ponozzo – the founder of rock band Styx – joined the company’s awareness campaign as an advocate for its HIV/AIDS vaccine. The downward movement was met with a sharp reversal, however, as the stock began a V-shaped recovery ahead of the company’s presentation.
Puda Coal, Inc. [[PUDC.OB]] shares jumped more than 20 percent following an announcement earlier this week that it acquired an 18% interest in a coal mine in China’s Shanxi Province. The company now appears to be well-positioned with a margin-improving mining interest to combat a dramatic slowdown in demand. See “Puda Coal Set to Benefit from Stimulus, Consolidation.”
Argyle Security, Inc. [[ARGL.OB]] shares surged nearly 20 percent on higher-than-average volume after Mezzanine Management Limited offered to acquire the company for $1.00 per share. The purchase price implies an enterprise value of $54.6 million, or 31.5x trailing earnings. Shares continue to trade at just $0.84 despite the offer as investors remain skeptical.
Cord Blood America Inc. [[CBAI.OB]] shares jumped more than 10 percent after it announced a conference call to discuss its first quarter results and corporate developments. The call is scheduled for Thursday, May 21st at 11:00 a.m. Eastern Time. Many investors are bullish on this quarter’s results given the breadth of recent news announcements.
China Marine Food Group Ltd. [[CMFO.OB]] shares moved more than 10 percent higher on greater-than-average volume and no news. Some investors believe that the company’s shares represent a compelling value given their growth rate and low earnings multiple.
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