StemCells Volume Has Been Interesting

StemCells Inc. (STEM) has had heavy volume during the last seven trading days. By heavy I mean the following: There are 25.3M STEM shares (~22.6M float), yet during the last seven trading days STEM volume has totaled ~66M. STEM closed yesterday (02012.07.26) at $2.05. 52-week range: $0.59 - $4.00. During the last eight trading days STEM has ranged from a low of $0.87 to a high of $2.31.

[02012.07.27] ~3.5M STEM shares traded yesterday (02012.07.26). That's approximately 15% of the float. STEM closed at $1.78, down 15+% for the day. Prior the market opening today (02012.07.27), StemCells Inc. announced the following.

"The California Institute for Regenerative Medicine has approved an award to the Company [StemCells Inc.] and its collaborators for up to $20 mln under CIRM's Disease Team Therapy Development Award program. The award is to fund preclinical development of co's proprietary HuCNS-SC product candidate as a potential treatment for cervical spinal cord injury."

My guess is today will be yet another high volume day.