San Francisco-based online game maker Zynga Inc. (NASDAQ:ZNGA) is one of the most active stocks with 80,439,048 shares changing hands on Jan. 16, 2014.
This should come as no surprise considering the volatile nature of the selling games on social networks such as Facebook (NASDAQ:FB). While Zynga has enjoyed some success in 2013 with such popular games as Zynga Poker, Farmville, and Farmville 2 still topping social-gaming charts, its quarterly revenue fell by about 30% in 2013 due to competing games. The company reported during its second quarter that it lost 39% of its active users in 2013 compared with the previous year, decreasing to 187 million.
Since then, Zynga has gone though some major restructuring, including recruiting and hiring its new CEO Don Mattrick, who served productive stints both at Microsoft Corp. (NASDAQ:MSFT) and Electronics Arts Inc. (NASDAQ:EA). Zynga also reduced its workforce by 18% when it laid off 520 workers as part of slashing $80 million dollars from its budget. It is also developing new role-playing games, which have a longer lifespan that social games, by introducing such games as Battlezone. In addition, Zynga is making a foray into online gambling games by introducing ZyngaPlusCasino and ZyngaPlusPoker in the United Kingdom.
On Jan. 16, ZNGA share price closed at $3.54, down 43 cents from its share price of 43 cents the previous day.
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Another very active stock is Dynavax Technologies Corp. (NASDAQ: DVAX), a biopharmaceutical company that develops new drugs to prevent and treat infectious diseases.
On Jan. 16, the Berkeley, Calif.-based company traded 5,192,081 shares, which is bit higher than its three-month daily average of 5,031,123. One reason Dynavax could be so active is because of its clinically-developed Heplisa. This is a hepatitis B vaccine that although rejected by the FDA earlier this year because it didn’t have enough data to determine its safety, is considered superior to present vaccines and is currently being reviewed for possible European approval. Moreover, Dynavax has not given up on FDA approval and is launching a new late-stage trial of Heplisa, which it hopes to complete in 2015.
On Jan. 16, DVAX share price closed at $2.00, unchanged from the previous day.
Cell Therapeutics Inc. (NASDAQ:CTIC) stock volume is also soaring in part because of a Jan. 13th announcement from its President and CEO James A. Bianco M.D. regarding the addition of two anti-cancer agents from Novartis to its portfolio.
"Regaining full rights to these two anti-cancer agents -- one currently marketed in Europe and the other completing late-stage development -- provides us with the flexibility to manage these assets within the context of our overall product portfolio strategy,” Bianco, said in a written statement.
On Jan. 16, the share price of CTIC closed at $3.20, up 15 cents from the previous day on a soaring volume of 5,156,166, substantially higher than its average three-month, daily volume of 3,632,567 shares.
Find out what could be the best investor’s move when it comes to CTIC by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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