Xcel Brands Pops on Coco Rocha-Baggallini News; Small Float Triggers Move
Xcel Brands shares surged 10.5% to $2.10 Tuesday, as trading volume spiked to almost 880 times normal levels. After the close, Xcel announced a new exclusive Baggallini handbag deal with Coco Rocha, grabbing more investor notice. Xcel's small size means timing played a role. The company has a market cap around $12.7 million. Sharp price moves can happen fast if trading activity jumps. Google Finance put volume at 16.35 million shares, way above the 18,510 average.