StemCells Previous Pop Lost, But STEM Pops Again

"StemCells, Inc. to Announce Interim Data on Spinal Cord Injury Trial at the 2012 Annual Scientific Meeting of the International Spinal Cord Society" was a press release issued by StemCells, Inc. yesterday (02012.08.30) morning. The "meeting" is taking place on Monday, 02012.09.03 (i.e. Labor Day in the U.S.).

Two days ago STEM closed at $1.61. Yesterday it closed at $1.96 after hitting an intra-day high of $2.03. Yesterday's volume was 7.6 million compared to a trailing-3-month average of 1.7 million. Today (02012.08.31), at 8:12am MST, STEM is at $2.17. Volume is already at 5.8 million. STEM 52-week range: $0.59 - $2.55.

Headline seen this Friday morning by Thomson Reuters One: "PropThink: STEM Gains on Anticipation of Interim Trial Data to be Presented Monday"

Duh!

"Share price is likely to remain strong on Friday and into the meeting, as most analysts expect some positive results from the trial. If Monday`s data looks good for STEM, shares may climb higher on momentum, however, negative results will have disastrous effects on the stock. STEM is up 140% in 2012." -- PropThink.com

Again, duh!

[update::02012.08.31] STEM closed at $2.15 today (02012.08.31), up ~9.7% for the day. Intra-day high was $2.24. Volume was 9.8 million. I blogged about STEM volume back on the 26th of July.