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Big Mover; Zoom Technologies Inc. (ZOOM)

By Warren Paige

Shares of Zoom Technologies Inc. (NASDAQ: ZOOM), a designer, producer, marketer and seller of broadband and dial-up modems, VoIP products and services, Bluetooth wireless products and other communications-related products, are gaining momentum in early trading today after the company said that it secured significant orders from Micromax & Maxtron.

ZOOM shares rose to an intra-day high of $1.33, and at last check, the stock was trading 13.47% higher at $1.18 on above average volume of 859,938.

Zoom Technologies said that received orders from India-based Micromax and Indonesia-based Maxtron for original design and manufacturing of mobile phones.

Micromax ordered 450,000 units in total of two models of GSM feature phones. Maxtron, meanwhile, has ordered 100,000 units of 2.5G GSM feature phones.

Lei Gu, Chairman and CEO of Zoom Technologies, said that ZOOM is thrilled to win such large orders from the top level mobile brands of these countries.

 

 

June 5th, 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.