Small
cap stocks making big moves on Tuesday, June 24, 2014 (as of 4 pm EST)
xG Technology, Inc. (NASDAQ: XGTI)
shares surged 25% to $2.31 on volume of more than 13.6 million shares Tuesday
after the developer of wireless communications and spectrum-sharing
technologies said it has been selected as a subcontractor to provide
communications and network services to the U.S.
Army’s Communications-Electronics Research, Development
and Engineering Center (CERDEC) Space and Terrestrial Communications
Directorate (S&TCD). The contract has a ceiling value of $497
million.
As well,
shares of Web.com (NASDAQ: WWWW)
slid 20% to $27.70 on more than 8.1 million shares traded following Google’s
announcement that it has entered the domain registration industry through an
invitation only beta website. Web.com is a provider of Internet services and
online marketing solutions for small businesses.
Xunlei Limited (NASDAQ: XNET)
stock, meanwhile, popped 24% to $14.90 on its first day of trading Tuesday.
Xunlei is one of the top 10 largest Chinese Internet companies, with
approximately 300 million monthly unique visitors.
Finally,
NeuroMetrix, Inc. (NASDAQ: NURO)
shares shot up 19% to $2.24 after the health care company that develops
wearable medical technology reported that it has received regulatory approval
in Japan for its NC-stat DPNCheck, a point-of-care test to detect diabetic
peripheral neuropathy.
