FTGX: Volume Spike; 12% > 20-adsv, Stock +10.14%
Wednesday, November 24, 2004 10:26 ET
This is the 1st VOLUME alert for FTGX in the past 7 calendar days.
Trading for Fibernet Telecom Group Inc (NASDAQ SC: FTGX) has been heavier than usual in today's session. By 10:25 ET, the stock had already traded 185,300 shares via 62 trades. The cumulative volume is 11.55% above its 20-day average of 166,117. Normally the stock experiences around 107 individual trades per session.
So far, today's volume surge has caused a net rise in FTGX's stock price. At the time of this alert, the stock was trading at $0.760, up $0.070 (+10.14%).
One year ago, the Company's shares closed at $1.220. The price has declined more than 37 percent since then.
Over the last 10 trading session FTGX has traded in a range between $0.630 and $0.720 and is currently trading 62.38% below its 52-week high of $2.020 set on January 26, 2004 and 31.03% above its 52-week low of $0.580 from October 20, 2004.
In the previous 3 sessions, FTGX trading has displayed a mixed trend. Closing results have been as follows:
November 23, 2004 --- closed at $0.690 up $0.020 (+2.99%) on 615,000 shares
November 22, 2004 --- closed at $0.670 up $0.010 (+1.52%) on 529,300 shares
November 19, 2004 --- closed at $0.660 down $0.030 (-4.35%) on 69,080 shares
The Company last released news on November 08, 2004:
"FiberNet Signs Network Services Agreement with Manhattan College"
FIBERNET TELECOM GROUP INC
FiberNet Telecom Group, Inc. has been engaged in the telecommunications industry. The Company provides advanced high-bandwidth fiber optic solutions. The Company has been focused on providing wholesale broadband connectivity for data, voice, and video transmission on its state-of-the-art fiber optic networks in the New York metropolitan area and is expanding into other major metropolitan areas, including Chicago.
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