The market closed higher today after being down for much of the morning and early afternoon. Stocks were looking to open the day strong following positive news out of Europe but quickly turned negative after a jump in jobless claims. The jobless claims news kept the market down during the morning hours, but the market soon starting coming back as investors and economists digested the news. In the end, positive sentiment in Europe won out as the Dow closed up 21 points, the Nasdaq up 14 points and the S&P up 3 points.
Let’s take a look at some of the most volatile stocks today and why they moved.
China Grentech Corporation (NASDAQ:GRRF) closed the day up 17.60% at $2.94. GRRF gaped at open this morning at $2.91 and quickly ran to $3 before settling in the mid $2.90s the rest of the day. China Grentech announced before market open they entered into a definitive agreement with Talenthome Management and Xing Sheng for ‘going private’ transaction. GRRF had extremely high volume today following this news with a touch over 1 million shares traded, well above its daily average of 41 thousand shares. The company has a market cap of 66.69 million.
Hanwha SolarOne Co., Ltd. (NASDAQ:HSOL) ended the day up 16.96% at $2.00. HSOL rallied for the second straight day as news of panel prices stabilizing and stronger demand has helped companies across the solar sector. HSOL traded 4 million shares today, 5 times its average volume. The company has a market cap of 168.26 million.
Vonage Holdings Corp. (NYSE:VG) finished up 11.42% today at $2.44. VG traded relatively average volume today with 2.1 million shares traded. The stock had been in a slight downtrend for about a week now after falling from $2.58 to $2.19 yesterday. It recovered most of those losses today as buying pressure rushed into the stock. The company has a market cap of 550.36 million.
HyperDynamics Corporation (NYSE:HDY) closed up 11.72% today at $2.86. HDY traded 3.1 million shares today and was right at its daily average. No recent news on HDY, but it had been selling off some for the start of the new year, falling from $2.90 to around $2.50 before bouncing back. The company has a market cap of 447.43 million.
Rex Energy Corporation (NASDAQ:REXX) ended the day down 15.11% at $11.63. REXX has been trading lower each of the past three days and selling pressure intensified at the close today as the stock moved below its 200 day MA. REXX traded 2.8 million shares today, more than twice its daily average. The company has a market cap of 516.37 million.
BroadVision, Inc. (NASDAQ:BVSN) finished the day down 10.37% at $15.55. BVSN traded 468 thousand shares today, 8 times its daily average. BroadVision announced this morning ti will release its fourth quarter financial results after hours on January 26. The company has a market cap of 70.21 million.
Goodrich Petroleum Corporation (NYSE:GDP) closed down 8.73% today at $15.36. GDP traded 1.4 million shares today. GDP shares fell today as natural gas prices drop causing stocks in that sector to sell off. The company has a market cap of 554.90 million.
Heath Management Associates (NYSE:HMA) ended down 6.49% today at $5.91. HMA has traded 17.6 million shares today, four times its daily average. HMA shares dipped today on news that Block & Leviton LLP investigates possible securities law claims against the company. The company has a market cap of 1.50 billion.