FTGX-: FTGX: Volume Spike; 40% > 20-adsv, Stock +12.50%
Monday , December 13, 2004 13:50 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 13:50 ET, the stock had already traded 434,800 shares via 193 trades. The cumulative volume is 40.48% above its 20-day average of 309,517. Normally the stock experiences around 136 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 $0.900, up $0.100 (+12.50%).
One year ago, the Company's shares closed at $1.170. The price has declined more than 23 percent since then.
Over the last 10 trading session FTGX has traded in a range between $0.000 and $0.910 and is currently trading 55.45% below its 52-week high of $2.020 set on January 26, 2004 and 55.17% 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:
December 10, 2004 --- closed at $0.800 up $0.020 (+2.56%) on 204,900 shares
December 09, 2004 --- closed at $0.780 down $0.030 (-3.70%) on 92,180 shares
December 08, 2004 --- closed at $0.810 down $0.010 (-1.22%) on 359,200 shares
The Company last released news on December 13, 2004 (today):
"Con Edison Announces Agreement to Sell Telecom Unit to FiberNet"
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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