Small
cap stocks making big moves on Tuesday, September 23, 2014 (as of 4 pm EST),
as reported by Sean Mason, SmallCapPower.com
Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD)
shares soared 38% to $8.93 on volume of more than 5 million shares Tuesday
after the clinical-stage biopharmaceutical company announced that the U.S. Food
and Drug Administration (FDA) approved its request for Fast Track Designation
of its product candidate, aramchol, for the treatment of Non-Alcoholic
Steato-Hepatitis, or NASH.
As well,
shares of ALCO Stores, Inc. (NASDAQ: ALCS)
plummeted 50% to $2.98 as the small-town retailer reported second-quarter net
sales from continuing operations that decreased 6% to $110.7 million, while it
swung to a loss of $7.0 million from earnings, net of income tax expense, of
$0.8 million during the same period last year.
China Finance Online Co., Limited (NASDAQ: JRJC),
meanwhile, said it has entered into a strategic partnership agreement with
Zhongshan Securities Co., Limited to integrate with China Finance Online’s
newly-launched web-based trading platform, “Securities Master.” China
Finance Online is web-based financial services company that provides Chinese
retail investors online access to securities, commodities, and wealth
management products. Its stock popped 17% to $8.33 following the announcement.
Finally,
MagneGas Corporation (NASDAQ: MNGA)
shares climbed 17% to $1.27 after the technology company that converts liquid
waste into a hydrogen-based fuel announced that it has received formal
confirmation from the Special Operations Command of the Fire Department of the
City of New York that it has begun final testing of MagneGas for use as a
replacement to acetylene.
