The last for the week FiberTower Corp. (NASDAQ:FTWR
) stock performance looked like the building of a pink tower.
The trading session was as dramatic, as the classical pink sheets sessions usually are. A lot of passion, huge gains and much huger volume were the main characteristics of the FTWR stock trading.
The NASDAQ traded
FTWR exploded 18.72% within a day.
In addition, the volume traded was significant. More than 9.6 M shares changed hands, while the average volume traded of FTWR stock is only 549 K.
Except for some wise presentations of FTWR as a big gainer, there were no viable reasons to build the FTWR stock pink tower.
It seems, that the company's presentation
, prepared for RBC Capital Markets' Technology, Media and Communications Conference at the beginning of the month, convinced investors to be more active.
Maybe the announced by FTWR $7 and $10 price targets
at the beginning of the month have awakened investors optimism. The above targets are for the company's restricted stock awards in accordance to the FTWR 2010 Stock Incentive Plan.
As well known, in such a market situation quickly built pink towers are withstanding earthquakes.