02:58 PM EST, 01/27/2014 (MT Newswires) -- Wireles
Post# of 275
02:58 PM EST, 01/27/2014 (MT Newswires) -- Wireless handset maker InfoSonics Corp. (IFON) defies choppy broad-market action on Monday, up more than 40% at one point to multi-year highs and still up some 34% in afternoon trading.
It was not immediately clear what was driving the sharp gain on above-average volume. The company regained NASDAQ trading compliance on January 9 after climbing back above the $1 per share minimum bid price. No new regulatory filings had been posted as of midday Monday.
The volatile micro-cap has traded 2.23 million shares through mid-afternoon, some five times the average 397,000 shares that typically change hands daily when measured over a 30-day period.
IFON has ranged between $2.10 and $3.08 Monday. At the high, the stock was in territory last seen in October 2007. The stock has roughly doubled since the start of 2014.
Price: 2.76, Change: +0.70, Percent Change: +34
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