Shares of Speed Commerce Inc (NASDAQ:SPDC) are up big today as investors may be looking at a bottom for the stock. After dropping over 75% last week on heavy volume, and the fear of a possible reverse-split, shares have soared today on even heavier volume. It will be interesting to see if this reversal fizzles out throughout the remainder of the day or perhaps picks up steam. Shares were trading above 20 cents only last week, prior to the big selloff.
The stock is up 73.33% or $0.055 today, hitting $0.13 per share. About 3.69 million shares traded hands or 575.52% more than the average. SPDC has declined 75.76% since April 23, 2015 and is downtrending. It has underperformed by 74.63% the S&P500.
Speed Commerce, Inc. is a well-known provider of flexible end-to-end E-commerce services to retailers and manufacturers. The company has a market cap of $6.92 million. The Firm provides Web platform development and hosting, order management, fulfillment, logistics and contact center services, which provide clients with transaction services and information management tools. It currently has negative earnings. Speed Commerce manages over 1.8 million square feet of fulfillment center from four facilities located in Pennsylvania, Ohio, Missouri and Texas, utilizing automation technology, such as unit sortation, pick-to-pack conveyors and radio frequency (RF) scanning.