Small
cap stocks making big moves on Thursday, May 29, 2014 (as of 4 pm EST)
Astrotech Corporation (NASDAQ: ASTC)
shares powered 41% higher to $3.16 on volume of more than 9.8 million shares
Thursday after the space commerce company said it has signed a definitive
agreement to sell the assets of its Astrotech Space Operations business to Lockheed
Martin for $61 million.
As well,
shares of Spherix Incorporated (NASDAQ: SPEX)
sank 40% to $2.07 on more than 21.8 million shares traded as the intellectual
property development firm reported that it intends to issue 10
million shares of preferred stock at a price of $2 a share.
xG Technology, Inc. (NASDAQ: XGTI),
meanwhile, announced that it has been awarded a new patent for interference
mitigation techniques, the second new patent grant announced by the company
this week. xG stock popped 24% to $2.10.
Finally,
Resonant Inc. (NASDAQ: RESN)
shares shot up 52% to $9.10 on its first day of trading Thursday. The company
creates filter designs for radio frequency front-ends for the mobile device
industry.
