Small
cap stocks making big moves on Monday, August 18, 2014 (as of 4 pm EST), as
reported by Sean Mason, SmallCapPower.com
China Finance Online Co. Limited (NASDAQ: JRJC)
shares shot up 76% to $7.82 on volume of more than 11.3 million shares Monday as
the web-based financial services company said it has launched China’s first
independent web-based securities trading platform, Zhengquantong (Securities
Master).
As well,
shares of Mitek (NASDAQ: MITK)
slid 18% to $2.50 on more than 2.8 million shares traded after a federal court
recently granted an USAA motion to dismiss Mitek’s patent
infringement claims on four patents. The provider of mobile imaging for
financial transactions and identity also disclosed that its CTO has left the
company to “pursue other opportunities.”
Sky-mobi Limited (NASDAQ: MOBI),
meanwhile, reported second-quarter revenue that rose 32.4% quarter-over-quarter
to $27.4 million, while its net profit for the period soared 1268.7% to $10.4
million. Sky-mobi is a mobile application platform based in China. Its
stock popped 26% to $8.47 following the announcement.
Finally,
Fabrinet (NYSE: FN)
shares fell 18% to $14.53 as the provider of optical packaging and precision
optical, electro-mechanical and electronic manufacturing services announced
that it is postponing its fourth quarter and fiscal year 2014 earnings release
after the company’s Audit Committee said it is investigating whether there were
any violations of Fabrinet’s accounting policies associated with potential
accounting matters.
