MTXX, RJET, SGY, EXM, SOL, DRYS. Top Losing Stocks With Negative Price Friction In Morning Trade Today
July 6, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for July 6, 2009. Since late October market makers are now required to be on the bid as much as they are on the offer and for like amounts of stock. This afair market makinga requirement is designed to prevent market makers from manipulating stock prices. Here is a list of the top companies with the largest losses this morning and negative price friction (bearish). This means that there was more selling than buying in the stocks and their stock prices dropped faster with less Friction. Matrixx Initiatives (NASDAQ: MTXX), Republic Airways (NASDAQ: RJET), Stone Energy (NYSE: SGY), Excel Maritime (NYSE: EXM), ReneSola (NYSE: SOL) and DryShips (NASDAQ: DRYS). To access Friction Factor, Naked Short Data and SqueezeTrigger Prices on all stocks please visit http://www.buyins.net .
Market Maker Friction Factor is shown in the chart below:
Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction
MTXX -$0.55 -8.49% 227,508 42.98% 301,305 56.92% -73,797 -1,342
RJET -$0.51 -7.88% 138,917 41.41% 189,737 56.56% -50,820 -996
SGY -$0.48 -6.92% 170,577 34.48% 263,385 53.24% -92,808 -1,934
EXM -$0.43 -6.77% 204,946 33.50% 317,726 51.93% -112,780 -2,623
SOL -$0.41 -7.40% 135,078 29.44% 264,784 57.72% -129,706 -3,164
DRYS -$0.40 -7.35% 1,990,226 36.46% 3,466,389 63.50% -1,476,163 -36,904
Click here to view chart:
Analysis of the Friction Factor chart above shows that each of the six stocks mentioned above have high net dollar losses (Change) and extremely low price friction in their stocks. The Friction Factor displays how many more shares of buying than selling are required to move a stock higher by one cent or how many more shares of selling than buying moves a stock lower by 1 cent.
For example, the chart above shows MTXX with a dollar loss this morning of -$0.55 and a Friction Factor of -1,342 shares. That means that it only takes 1,342 more shares of selling than buying to move MTXX lower by one penny. This means the Market Makers are allowing the stock to drop quickly (low friction). The combination of low friction and negative market direction can drive prices lower faster than normal.
Matrixx Initiatives, Inc. (NASDAQ: MTXX), through its subsidiaries, engages in the development, production, marketing, and sale of over-the-counter (OTC) healthcare products. It offers Zicam Cold Remedy nasal pump, a homeopathic nasal gel that reduces the duration and severity of the common cold; Zicam Cold Remedy Swabs for consumers, who dislike nasal sprays; and Zicam Cold Remedy Chewables, Zicam Cold Remedy RapidMelts, Zicam Cold Remedy Oral Mist, Zicam Cold Remedy RapidMelts + Vitamin C, and Zicam Cold Remedy RapidMelts + Vitamin C and Echinacea, which are oral cold remedy products that deliver a dose of ionic zinc to the oral mucosa. The company also provides Zicam Allergy Relief, a homeopathic nasal gel formula to control allergy symptoms for sufferers of hay fever and upper respiratory allergies; Zicam Extreme Congestion Relief, a nasal gel for relief of nasal congestion and sinus pressure; and Zicam Sinus Relief that provides the benefit of the product with the aromatic strength of a cooling menthol/eucalyptus blend. In addition, it offers Zicam Cough Spray products to deliver cough relief and soothe throat irritation, including Zicam Cough Max, a liquid spray formulation that provides relief. Further, the company offers Zicam Multi-Symptom Cold and Flu Relief products, which utilize a spoon dosing delivery to provide relief of cold and flu symptoms; and Xcid, a creamy antacid product. It sells products directly to food, drug, mass market, and wholesale warehouse retailers in the United States, as well as to distributors that sell to retail establishments under the Zicam, Nasal Comfort, and Xcid brands. The company was formerly known as Gum Tech International, Inc. and changed its name to Matrixx Initiatives, Inc. in June 2002. Matrixx Initiatives, Inc. was founded in 1991 and is based in Scottsdale, Arizona.
Republic Airways Holdings Inc. (NASDAQ: RJET), through its subsidiaries, provides scheduled passenger and air freight services. The company also offers charter services. As of December 31, 2008, it offered scheduled passenger service on approximately 1,250 flights daily to 109 cities in 35 states, Canada, Mexico, and Jamaica; and operated a fleet of 221 aircraft. The company was founded in 1996 and is based in Indianapolis, Indiana.
Stone Energy Corporation (NYSE: SGY) engages in the acquisition, exploration, development, operation, and production of oil and gas properties located in the Gulf of Mexico and Appalachia region. As of December 31, 2008, the company had estimated proved oil and natural gas reserves of approximately 518.9 Bcfe. Stone Energy Corporation was founded in 1993 and is headquartered in Lafayette, Louisiana with additional offices in Houston, Texas, and Morgantown, West Virginia.
Excel Maritime Carriers Ltd. (NYSE: EXM) provides sea borne dry bulk cargo transportation services worldwide. The company transports various types of cargo, including iron ore, coal and grain, steel products, fertilizers, cement, bauxite, and sugar and scrap metal. As of May 1, 2009, it owned and operated a fleet of 47 vessels comprising 5 Capesize, 14 Kamsarmax, 21 Panamax, 2 Supramax, and 5 Handymax vessels with a total carrying capacity of approximately 3.9 million deadweight tonnage. The company was founded in 1988 and is based in Athens, Greece.
ReneSola Ltd (NYSE: SOL) engages in the manufacture and sale of solar wafers and related products. It offers monocrystalline wafers, multicrystalline wafers, monocrystalline ingots, and multicrystalline ingots. As of December 31, 2008, ReneSola had 306 monocrystalline furnaces, 64 multicrystalline furnaces, and 133 wire saws. The company also provides ingot and wafer processing services. It sells solar wafers primarily to solar cell and module manufacturers worldwide. ReneSola was founded in 2003 and is based in Jiashan, the Peoplea�s Republic of China.
DryShips Inc. (NASDAQ: DRYS) engages in the ownership and operation of drybulk carriers worldwide. Its fleet carries various drybulk commodities, including coal, iron ore, grains, bauxite, phosphate, fertilizers, and steel products. As of March 26, 2009, the company owned and operated a fleet of 40 drybulk carriers comprising 7 Capesize, 29 Panamax, 2 Supramax, and 2 newbuilding drybulk vessels, which have a combined deadweight tonnage of approximately 3.3 million. It also owned and operated two ultra-deep water semi-submersible drilling rigs and two ultra deep-water newbuilding drillships. The company was founded in 2004 and is based in Athens, Greece.
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