AMEX Weakest Performers on July 13 (NBY, CUR, ADG, AZC, DII)
July 14th, 2010 at 4:02 am Posted by
The Dean would like to bring attention to 5 weakest links on the AMEX on July 13:
NBY $1.91 -$0.11
NovaBay Pharmaceuticals, Inc. (AMEX:NBY), a developer of synthetic medications that treat and prevent infections, leads the list of the worst AMEX performers on July 13. The company’s shares dropped 5.45% to close at $1.91 a share. NBY is about 7.3% lower compared to its level at the beginning of the year. Recently, the company announced a completion of enrollment into a trial for its developmental drug used in treatment of skin-infections called impetigo.
CUR $2.41 -$0.10
Second on the list of the biggest AMEX percentage losers on Tuesday is Neuralstem Inc. (AMEX:CUR). Shares of this pharmaceutical company engaged in development of stem-cell and molecular-drug based treatments for central nervous system disorders, fell 3.98% to close at $2.41. CUR shares are still up 34.64% for the year. Neuralstem Inc. recently raised $10 million from a registered share offering to institutional investors in a deal that involved sale of shares priced at $2.80 and ¾ purchase warrants.
ADG $3.40 -$0.14
Allied Defense Group, Inc. (AMEX:ADG) was another underdog on Tuesday. This US-based producer of ammunition saw its shares fall by 3.95% in a subdued trading session. About 90,512 shares changed hands or less than one half of the average trading volume of 200,000 shares a day. ADG is the stock with the second lowest beta in the Aerospace and Defense sector, which usually indicates a relatively low level of risk. Still, ADG shares have risen sharply since June 2010, following the announcement that Chemring Inc. will acquire the majority of the ADG stock for $59.6 million.
AZC $1.50 -$0.06
Augusta Resource Corp. (AMEX:AZC), an exploration-stage company focused on mining of silver and other precious metals in North America, dropped 3.85% to close at $1.50 a share. This took place on a day when mineral prices increased and mining stocks recorded trading gains, which suggests that AZC stock is likely to continue its descent toward its 52-week low of $1.30 a share.
DII $1.31 -$0.05
Decorator Industries, Inc. (AMEX:DII) is a $4.1 million producer and seller of interior furnishings. DII shares dropped 3.68% in 5x the usual daily trading volume and closed at $1.31 a share. Still, despite this decline, the company is some 48.9% higher on the year. The company recently received an inquiry from the AMEX about a substantial plunge in the DII price on July 7 coupled with an exceptionally high trading volume. The company was unaware of any reason that may have influenced the recent price movements.
