With majority of companies up, the Microcap Stock Index climbs higher
Back in July, we talked about how the Bowser Microcap Stock Index broke 600 and continued to climb. Now, over two months later, the Index stands closer to 700 than 600. The Index jumped 58.51 points, or 9.5% from July 26 (614.69) to September 24 (673.20).
More recently, the Bowser Microcap Stock Index climbed from August 22's close of 616.69 to the recent close of 673.20 (+9.2%). All the while, September has historically proven to be a tough time for most markets. That should leave you wondering, what's causing the enormous move forward?
To start, 30 of the 50 companies in the Index were up since August 22, while three didn't change and 17 were down. That represents 60% of the companies in the Index, a decent majority. And, those that were up, were up considerably. Of those that were up, two were up over 30%, six were up between 20 and 29%, six were up between 10 and 19% and 16 were up between 1 and 9%. The top five up in value were:
- Alliance Fiber Optics (AFOP) +33%;
- Spine Pain Management (SPIN) +31%;
- Innotrac Corp (INOC) +27%;
- Avalon Holdings (AWX) +27%; and
- Digital Power Corp (DPW) +22%.
And, helping the gains, those that were down were not down very much. Just three were down 10% or more, leaving 14 down between 1 and 9%. The top 5 down were:
- Joe's Jeans (JOEZ) -14%;
- ENGlobal Corp (ENG) -12%;
- Tandy Leather Factory (TLF) -10%;
- Food Technology Services (VIFL) -9%; and
- Bovie Medical (BVX) -7%.
The highlight of the Index was Alliance Fiber Optics. This company has fueled the Index for quite some time, and continued to do so after announcing a 2-for-1 split that took effect on September 16, 2013. The company was up over 33% between July 26 and September 24 (accounting for the split).
Compared to other indexes, the Bowser Index faired very well, coming in first with the highest gain. All indexes compared were up between July 26 and September 24, except the Dow Jones, which lost 1.4%.
|MAJOR INDEX COMPARISON 07/26/13 to 09/24/13|
|Bowser Microcap||NASDAQ Comp||Russel 2000||S&P 500||Dow Jones|
How much longer do you think the Bowser Microcap Stock Index's historical run will last? Do you have a recent success story of your own? Comment below to let us know!