Are The Declines In Axion Power International Inc(AXPW), West Corp(WSTC) and First Republic Bank(FRC) Just A Prelude To Bigger Gains?
New York, NY – GDP INSIDER – 03/16/2015.
This article discusses three companies: Axion Power International Inc(NASDAQ:AXPW), West Corp(NASDAQ:WSTC) and First Republic Bank(NYSE:FRC)
Axion Power International, Inc.(NASDAQ:AXPW) continued to decline on Friday with the stock dropping another 23.22% or $0.0339 to close at $0.1121 on very heavy trading of 5.695 million shares. The advanced lead-carbon battery manufacturer is continuing to suffer from poor investor confidence as delisting from NASDAQ is becoming ever more likely, unless management can find a way to boost the stock back above $1. With RSI of 26.46 the stock may be undervalued at the moment, but it is a very speculative buy. Better to sell or steer clear.
West Corp(NASDAQ:WSTC) the technology driven communication services provider fell back slightly on Friday losing 1.53% or $0.48 to close at $30.80 with more than 5.073 million shares trading hands, compared to its three month average trading volume of 0.286 million. The latest decline was triggered when West Corp announced a secondary public offering of 11 million common shares priced at $30.75 and at the same time agreed to repurchase one million shares privately from shareholders. The stock had been doing well so far this year up 5.38% before the announcement and should bounce back.
First Republic Bank(NYSE:FRC) dropped back on Friday closing down 4.41% or $2.63 at $57.04 ending the run of recent gains on the stock with 5.018 million shares traded, compared to its three month average trading volume of 0.764 million. The decline began after the bank announced that it was making a public offering 3.5 million shares of common stock priced to generate an additional $205 million dollars in revenue. Year to date the stock is up 9.43% compared to the S&P 500 which has only lost 0.27% and should gain further when the offering is complete.
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