Wednesday, December 19, 2012

Altair Nanotechnologies No Longer a Penny Stock

Altair Nanotechnologies (ALTI) executed their 1:6 reverse stock split yesterday (02012.12.18). Prior to the split, ALTI closed at $0.47 on 02012.12.17. It opened yesterday at $2.34; hit an intra-day high and low of $2.74 and $2.29, respectively; and closed at $2.47. Volume was 48,400.

Hmm... Six times $0.47 is $2.82; therefore, ALTI opened down 17% and at one point it was down almost 19%. For the day it was down 12.4%.

There are now approximately 11,589,652 ALTI shares. Finance.Yahoo.com shows that ~63% of ALTI shares are closely held. If true, then ALTI has a float of ~4.3 million shares.

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