USEC STOCK SURGES, SHARE PRICE DOUBLES

The share price for USEC’s stock surged yesterday, more than doubling over the course of the day to close out at a price more than triple where it stood just two weeks ago. USEC’s share price began at $6.25 yesterday, hit a peak of $15.80, and at market close stood at about $12. The jump caught the eye of the New York Stock Exchange, which both Friday and yesterday contacted USEC “regarding unusual market activity,” according to a USEC statement. Trading of the stock paused briefly for volatility after the share price reached its peak. Both USEC and the NYSE declined to comment further on the stock. USEC’s share price hit a low of $2.60 on July 8, shortly after USEC implemented a 25-to-one reverse stock split in an effort to increase its share price in order to meet minimum listing requirements for the Stock Exchange.

The recent USEC surge has also bumped the company’s market capitalization over the $50 million minimum limit required by the NYSE—It stood at about $59.9 million at market close. USEC received a notice from the Exchange last spring warning that it could be delisted because of the low market capitalization.