Another 52-Week High for Commerce Planet
Hitting $2.88 in later-day trading, CPNE seems to be benefiting greatly from it’s >$100 million market cap.
Commerce Planet fulfilled and exceeded this key investment criteria for small cap fund managers and other institutional investors when shares hit $2.04 on Tuesday, closing at $2.35 on above average volume of 1,260,000. Since then, the floodgates have opened and it appears that new, possibly longer-term investors are flowing in. These new investors have most likely facilitated recent growth to at least some extent and more are likely to follow suit as the story spreads.
We stated that $3 was a distinct possibility, but could it hit the mark today? Only time will tell
Commerce Planet fulfilled and exceeded this key investment criteria for small cap fund managers and other institutional investors when shares hit $2.04 on Tuesday, closing at $2.35 on above average volume of 1,260,000. Since then, the floodgates have opened and it appears that new, possibly longer-term investors are flowing in. These new investors have most likely facilitated recent growth to at least some extent and more are likely to follow suit as the story spreads.
We stated that $3 was a distinct possibility, but could it hit the mark today? Only time will tell
Labels: 52 Week High, Commerce Planet, Commerce Planet Inc., CPNE
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