Adamis jumps on no news

|About: Adamis Pharmaceuticals... (ADMP)|By:, SA News Editor

Shares of thinly traded nano cap Adamis Pharmaceuticals (ADMP +24.9%) jump on a 5x surge in volume albeit on turnover of only ~540K. Prices peaked at $5.27 earlier today representing a 100% gain from the August 15 low of $2.62. Shares are now poised to break the long-term downtrend line. Prices peaked at $18.70 almost two years ago.

There is no specific news today to account for the move. CEO Dennis Carlo reshuffled the BOD last week, though.

Nine mutual funds have positions, up from one a year ago.