Are These Recent Gains Misleading? Ascent Solar Technologies, Inc.(NASDAQ:ASTI) and Corinthian Colleges Inc(NASDAQ:COCO)
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Ascent Solar Technologies, Inc.(NASDAQ:ASTI) saw its value increase by 18% during yesterday’s trading as the stock gained $0.049 to finish the day at a closing price of $0.319. Despite the increase in value, it is important to note that the stock did trade for as little as $0.26 during the day, a new 52 week low for the Colorado-based development stage company. Not only that, the stock also remains over $0.84 below its 52 week high of $1.16.
Ascent Solar Technologies, which manufactures photovoltaic integrated consumer electronics, released announced that its EnerPlex™ series of consumer products was recently chosen by Examiner.com as one of the “14 Great Products” debuted at the Outdoor Retailer show in Salt Lake City. The company also recently completed a 12 million common stock issuance at $3.96 million.
Corinthian Colleges Inc(NASDAQ:COCO) rebounded from its recent losses by gaining $0.042 trading yesterday, a 28.76% increase in value that moved the stock to a closing price of $0.186. However, just like Ascent Solar Technologies, Corinthian Colleges also traded for a new 52 week low of $0.14 during the day and remains substantially below its 52 week high of $2.75.
On Wednesday, it was reported that Corinthian Colleges, a post-secondary education company based in California, had received a grand jury subpoena from the U.S. Attorney’s Office. The company, which is facing charges related to its potential falsification of job placement and other marketing data, recently agreed to shut down or sell its 107 campuses. The company’s recent downfall is also in line with challenges currently being faced by other for-profit education companies.
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