It's cryptocurrency buzz that's lifting ZK International
U.S. stocks are holding higher this afternoon amid low trading volumes. Some names making big moves today are Chinese pipe company ZK International Group (NASDAQ:ZKIN), mobile marketing specialist Live Ventures Inc (NASDAQ:LIVE), and forex concern Gain Capital Holdings Inc (NYSE:GCAP). Let's see what's moving shares of ZKIN, LIVE, and GCAP.
ZKIN Stock Explodes On New Investments
ZK International Group is up 16% to trade at $10.72, earlier hitting a record high of $16, on news the company has received an investment from blockchain specialist NGST Ltd and cryptocurrency expert Exigent Capital. The stock began trading publicly in early September at $7.61, and hit a record low of $6.70 on Oct. 27. The China-based company has a market capitalization of roughly $157 million.
LIVE Stock Near the Top of the Nasdaq
Live Ventures stock is up 65.9% at $22, after the company revealed better-than-expected full-year revenue and said it needed an extension to file its 10-K. The shares are now pacing for their highest close in almost a year, having more than doubled from their June 6 low of $9.11. The move could finally result in some attention from analysts, since there are zero brokerage firms tracking the equity at the moment.
Gain Capital Stock Rallies On Mox Investment
Shares of Gain Capital were last seen trading 20% higher at $9.35, earlier hitting a more than two-year high of $9.60, thanks to news activist investor Mox Reports is long on the stock. This comes after the company recently added bitcoin to its trading platform, which Mox believes will lead to near-term upside. Meanwhile, GCAP short sellers continue to get burnt, with the security now up 54% over the past six months. Over 19% of the stock's float is dedicated to short interest, which would take short sellers roughly two weeks to buy back, at average daily trading volumes.