The Nasdaq is pushing higher this morning thanks to comments from Fed Chairman Ben Bernanke. His latest speech on the economy continued to reiterate low interest rates and some analysts believe his lack of not ruling out another round of QE means there could be one.
Analysts think Bernanke’s latest comments build even more confidence in the latest rally knowing that the Fed will do everything in their power to make sure a repeat of 2008 doesn’t happen.
Bernanke did point out that the economy needs to grow more quickly to produce enough jobs to lower the unemployment rate. He added that the current rate of 8.3% seems “somewhat out of sync” with economic growth.
The Nasdaq is currently up more than 1% at 3,102.34.
Vernium Corporation (NASDAQ:VRNM) is up 25.33% this morning at $3.8602. VRNM has traded 923 thousand shares so far today, well above its daily average of 61 thousand shares. VRNM shares are rallying today after completing $37 million sale of certain assets to DSM. The company has a market cap of 48.35 million.
SIGA Technologies Inc. (NASDAQ:SIGA) is up 16.67% today at $3.13. SIGA has traded 506 thousand shares so far today, above its daily average of 484 thousand shares. SIGA shares were trading relatively flat for the previous week or so before today’s big spike. The company has a market cap of 161.62 million.
Gravity Co., Ltd. (NASDAQ:GRVY) is up 7.82% today at $3.17. GRVY has traded 659 thousand shares this morning, more than 3 times its daily average. Gravity Co. released their latest game, Ragnarok Online II, in Korea today. The company has a market cap of 88.11 million.
DARA Biosciences, Inc. (NASDAQ:DARA) is up 6.25% in early trading at $1.53. DARA has traded 225 thousand shares today, more than 3 times its average volume. Dara Biosciences announced this morning they have obtained U.S. rights to co-promote Bionect exclusively in the radiation and oncology markets. The company has a market cap of 10.57 million.
Ubiquiti Networks, Inc. (NASDAQ:UBNT) is up 8.79% today at $33.05. UBNT has traded 314 thousand shares so far today, slightly higher than its daily average of 297 thousand shares. UBNT has rallied $9 a share since early March. The company has a market cap of 3.03 billion.
Zogenix, Inc. (NASDAQ:ZGNX) is up 9.18% today at $2.14. ZGNX has traded 356 thousand shares so far today and trades 632 thousand shares a day on average. Zogenix shares have jumped more than $0.30 a share in the past two days. The company has a market cap of 138.58 million.
About Danny Fisher
