If you’ve heard about the buzz surrounding Tanzanian Royalty Exploration (AMEX:TRX), be a pal — let the company know.
The small-cap precious metals miner sent out a release Tuesday reporting there was “no particular event other than a technical market situation that can explain the recent trading action in the Company’s shares.” The “recent trading action” in question was a roughly 6.3 million share movement during Tuesday trading — or about 15 times its average volume.
Granted, this is a $334 million in market cap stock and it doesn’t take a lot to move the needle. But does the company have to admit that?
The stock finished down 14% to land at $3.54 per share, dealing TRX a blow and proving that no news isn’t necessarily better than bad news. In this very emotional market, Tanzanian Royalty just goes to show how things can get ugly in a hurry when investor sentiment heads south.
A couple stocks (that you may actually recognize) on the move Tuesday included Sears (NASDAQ:SHLD), which bumped up 6.5% to $57.51 on news the company was opening up leasing of its real estate holdings at 3,700-plus locations, and Research In Motion (NASDAQ:RIMM), up 4.5% to $22.65, near a five-day high, amid speculation that investor Carl Icahn had taken a stake in BlackBerry’s maker.
Here are some other stocks of note:
Three Up
- Deutsche Bank (NYSE:DB): Up 5.97% ($2.10) to $37.25.
- Dow Chemical (NYSE:DOW): Up 4.41% ($1.08) to $25.59.
- Baidu (NASDAQ:BIDU): Up 4.21% ($5.16) to $127.72.
Three Down
- Walgreen (NYSE:WAG): Down 6.27% ($2.26) to $33.77.
- United Continental (NYSE:UAL): Down 4.67% ($1) to $20.43.
- Discover Financial (NYSE:DFS): Down 4.49% ($1.17) to $24.86.
Kyle Woodley does not own shares in any of the aforementioned companies.