Diamonds and Dogs
7/5/13World Acceptance Corp. (WRLD)
World Acceptance Corp is not be accepted by investors today, down 11.86% at $78.19. The small business loan company saw its shares fall after it announced it would delay the release of its 10k financial statement. The reason for the delay was said to be due to problems relating to allowing for losses on loans that went unpaid. Management said the 10k could contain "material weakness" based on internal accounting rules applied to the unpaid loans. Material weakness is scaring investors away from this stock today as that could pertain to a wide variety of problems aside from the accounting department deciding on what is a loss and what is not. Shares of World Acceptance are still well above their 52-week low of $61.00.
Celldex Therapeutics Inc. (CLDX)
Celldex Therapeutics is skyrocketing today, up 14.05% at $21.27. The biopharmaceutical company saw its shares jump due to a few reasons. First, Celldex shares have had huge upward momentum for the past six months, with shares gaining 163%. Second, CNBC's Jim Cramer has continued to boost the company stating that the company is a buy and has huge potential. Finally, today we found out about some insider buying which is a positive sign for the company and its shares. Two Celldex executives used their stock options to purchase more shares, a sign that these executives think there is some more momentum behind the stock (both options were for 500 shares at $5.95 a share). Shares of the company set a new 52-week high of $21.42 intraday.