Wednesday, December 16, 2009

GigaMedia Recovering on Pact (GIGM)

GigaMedia Ltd. (NASDAQ: GIGM) is surging this morning after the company announced a strategic alliance with European online gambling player Mangas Gaming.  Shares are up 10% at $4.17 on 150,000 shares as of 7:42 AM EST. This stock is actually closer to lows than highs as its 52-week trading range is $3.49 to $7.73.  Average volume here is close to 800,000 shares per day.


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