There’s no doubt that Hurricane conditions in the southern part of the US have had some kind of impact on trading today. As expected we’ve seen airline stocks fall and oil/gas stocks climb with flights being canceled and areas in places like Florida, Georgia, and the Carolina’s get placed into states of emergency. Despite this, other factors haven’t stifled bullish momentum in other equities on Thursday including a few micro-cap stocks as well. Trending stocks that are active heading into the afternoon hour include Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) SunEdison, Inc. (NYSE:SUNE) and FANTASY 6 SPORTS I COM NPV(OTCMKTS:FNTYF):
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK), a bulk shipping company, has attracted a lot of attention on Thursday. The company announced that it has entered into equity purchase agreements with three of the company’s largest shareholders. Shares of GNK have increased as high as 7.90 after this latest announcement and following the lunch hour have started to climb once again. The stock hit a low of $6.45 after its initial run this morning and has since recovered by more than $1.15/share just before the 1PM hour.
SunEdison, Inc. (NYSE:SUNE) has seen its own share of the market momentum fuel intra-day gains. After opening at $0.0503, shares have spiked to highs of $0.085 prior to 1PM EST. There hasn’t been any clear “pull-back” to speak of quite yet and without a news catalyst, this seems to have sparked on market momentum today. Three days ago the company announced that the company was in settlement talks with TerraForm Power Inc. and TerraForm Global Inc. to settle the some $3 billion in claims.
FANTASY 6 SPORTS I COM NPV (OTCMKTS:FNTYF) regained more ground today as the stock hit highs of $0.963. During the last week shares of the fantasy sports and app technology company fell to lows of $0.842 but have since jumped back as of Thursday afternoon. The company most recently made a push and roll-out of its Fantasy Football Coach mobile app, which it says has been met with critical success. The company stated in a press release that the app debuted at #4 in the Football Category in the United States and Canada and is listed at #21 in the curated New Games We Love list by Apple in Europe. FFC is showing strong global appeal, ranking among the Top-100 in the overall Sports category in 119 countries around the world. With companies like FanDuel and DraftKings being public, a “pureplay” in the space has been limited. Companies like Fox, Comcast, and even Google investing in the space, this young yet quickly growing industry has begun to catch the attention of retail investors.