Friday, May 16, 2014

5/16/2014 Lunch Update

The IP sector is relatively flat and mostly trading in sympathy with the overall market.  I am seeing very light volume almost everywhere.  It is also monthly options expiration week.  All results as of 12:30pm EST.

EONC is trading off recent lows up 7.5% on 77K shares.

MGT is trading at the high of the day up 6.6% on 21K shares.  The company filed their Q1 report yesterday in the AH.  I don't see any other news.

SPEX is trading up 4% on 1.3M shares.  The company held a shareholder conference call at 10am this morning, which I believe went very well.  I am seeing more trading group activity on twitter, likely driving the volume and share price increase.  I do like the risk/reward opportunity in Spherix, but these trading groups make it very hard to make entry points.

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