New York (December 13th, 2012) - SolarCity Corporation (NASDAQ: SCTY), a company engaged in the installation of residential solar systems, is soaring on its trading debut. SCTY completed its IPO on Wednesday. The company sold 11.5 million shares in the IPO at $8 per share.
SCTY had initially planned to sell 10.1 million shares in the IPO at a price range between $13 and $15 per share. However, the company had to slash its IPO price. SCTY is currently trading 39.75% higher at $11.18 on volume of 4.18 million. The stock hit a high of $11.41 earlier today.
Telik Inc. (NASDAQ: TELK), a clinical-stage drug development company engaged in the discovery and development of small molecule drugs to treat cancer, is amongst the major gainers on the NASDAQ in mid-day trading today.
After falling nearly 16.50% on Tuesday, TELK has rebounded sharply in the last two trading sessions. On Wednesday, the stock had gained more than 11%. In today’s trading, the stock is currently up 19.38% to $2.10 on above average volume of 1.55 million.
TELK has rebounded after the company on Wednesday announced Telintra® clinical publication at the 54th Annual Meeting of the American Society of Hematology. The stock has broken through $2 resistance level as a result of the rally. Technical indicators suggest that the upward trend will continue.