Small
cap stocks making big moves on Tuesday, May 27, 2014 (as of 4 pm EST)
Spherix Incorporated (NASDAQ: SPEX) shares
surged 97% to $2.97 on volume of more than 44.7 million shares Tuesday after
the U.S. Senate and Senate Judiciary Committee Chairman Patrick Leahy removed a
patent reform bill from the committee’s calendar due to a lack of bipartisan
support. Spherix, an intellectual property development firm, said
“the removal of this bill from the Senate Judiciary Committee schedule
should remove some of the uncertainty which has been clouding our
industry.”
As well,
shares of Provectus Biopharmaceuticals,
Inc. (NASDAQ: PVCT)
plunged 63% to $0.75 on more than 15.3 million shares traded as the New
York Stock Exchange has placed Provectus’ listing status under review
following the company’s May 23, 2014, announcement that it had received
notification from the FDA that the FDA has declined to designate PV-10 as a
Breakthrough Therapy at this time.
Lentuo International Inc. (NYSE: LAS),
meanwhile, announced that members of its senior management team have informed
the company of their intention to use their personal funds to purchase the
company’s American Depositary Shares on the open market for an aggregate amount
up to a maximum of $1.0 million within the next 12 months. Lentuo is a
non-state-owned automobile retailer headquartered in Beijing. Lentuo
International stock moved up 16% to $2.21.
Finally, Aeropostale, Inc. (NYSE: ARO)
shares jumped 15% to $3.92 after the teen clothing retailer said it completed a
deal with Sycamore Partners that allows the investment firm take up to a 5%
greater stake in the company and gives Aeropostale $150 million in loans. If
Sycamore buys 5% more shares, it would hold roughly 12.3% of Aeropostale’s
outstanding shares, making it the company’s largest shareholder.
