Crumbs Bake Shop Inc (OTCMKTS:CRMB), Molycorp Inc (NYSE:MCP) Are Notable Volume Buzzers
Crumbs Bake Shop Inc(OTCMKTS:CRMB) has been posting its biggest intra day gain ever on Thursday as it soared as much as 1200% to 41 cents on hefty volume of 7 million shares. The stock started to move higher in mid day session following a report from CNBC claiming that An investor group that includes the Fischer Family and Marcus Lemonis, Chairman and CEO of Camping World and Good Sam Enterprises and star of CNBC’s “The Profit,” confirmed it plans to provide financing for the struggling cupcake chain as a prelude to an acquisition.
Earlier this week, the company had decided to shut down all of its stores roughly one week after its shares were delisted from the Nasdaq stock exchange.
In a CNBC in-person interview in April, Crumbs CEO Ed Slezak placed part of the blame for the company’s difficulty its flagship product, saying the cupcake is “too narrow of an assortment” and “too tight a niche to attract a sufficient number of people” daily.
Molycorp (MCP -8.5%) extends its descent into all-time lows, a day after reports that Apollo Global Management is adding to its MCP bond holdings, which would position the investment firm to take control of MCP in the event the company sought to restructure its $1.5B in debt.
Shares enjoyed a momentary bump after D.A. Davidson came out positive on the company, saying after meeting with management it remains optimistic that MCP’s production rates are improving; it has a Buy rating on the stock with a $7 price target.
Tags: Crumbs Bake Shop Inc (OTCMKTS:CRMB), Molycorp Inc (NYSE:MCP)