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Micro-Cap of the Day; Stereotaxis Inc. (STXS)

By Warren Paige

Shares of Stereotaxis Inc. (NASDAQ: STXS), a designer, manufacturer and marketer of an advanced cardiology instrument control system for the interventional treatment of arrhythmias and coronary artery disease, saw a huge rally in trading today.

STXS shares ended the day 29.81% higher at $2.09 on above average volume of 237,924. The stock touched an intra-day high of $2.16 in trading today.

Stereotaxis earlier this month announced that its stockholders approved an amendment to the company’s Certificate of Incorporation to effect a reverse split of the STXS common stock, $0.001 par value per share.

STXS’s Board of Directors fixed the ratio for the reverse stock split at 1-for-10. The reverse split was effective on July 10, 2012.

The purpose of the reverse stock split was to raise the per share trading price of STXS common stock to regain compliance with $1 per share minimum bid price requirement for continued listing on the NASDAQ Global Market.

July 25th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.