Shares of iFresh (IFMK) jumped 120% on abnormal levels, GenMark Diagnostics (GNMK) rose 33.15%, Hyliion Holdings up about 31% among other stocks that made the headlines. We have highlighted below some of the reasons for the price movements.
GenMark Diagnostics Inc. (GNMK)
Shares of GenMark traded as high as 33.15% following reports that the company could be acquired. Bloomberg’s report stated that GenMark has been contacted by multiple potential buyers. The stock moved from its previous day’s closing of around $16 to close Thursday at $22.45 after hitting a 52-week high of $23.49 in the session.
Hyliion Holdings Corp (HYLN)
HYLN shares traded within their normal range and were about 31% up in the day’s session. The stock opened trading at $15.98 per share to close at $20.78.
Microvision Inc. (MVIS)
Shares of Microvision traded as high as 30.79% after the company confirmed it received the necessary components and equipment to meet the April milestone of completing A Sampleof its Long Range Lidar Sensor. The stock had closed Wednesday at $14, began Thursday’s session at $19.67 to close at $q8.31 per share.
DermTech Inc (DMTX)
DermTech shares were up 25.83% following the company’s report that it had entered into an agreement with Blue Cross Blue Shield of Texas. The genomics company in dermatology closed the previous day trading at $53.05, started Thursday at $69.49 to close at $66.75 per share.
Penny Stock watch
iFresh Inc (IFMK)
Shares of ifresh jumped 120% on abnormal volume levels without seeing any company-specific news to justify the price action. The stock started trading at $1.47 on the day to close at $3.30 per share.
iFresh Inc is an Asian/Chinese grocery supermarket chain in the North-Eastern U.S. providing food and other merchandise hard to find in mainstream grocery stores. The company has two reportable and operating segments: Retail segment and Wholesale segment. It offers seafood, vegetables, meat, fruit, frozen goods, groceries, and bakery products through its retail stores. The company generates a majority of its revenue from its retail segment.