The stock of Acorn International, Inc. (ADR) (NYSE:ATV) gapped up by $0.17 today and has $16.44 target or 59.00% above today’s $10.34 share price. The 8 months technical chart setup indicates low risk for the $43.21M company. The gap was reported on Oct, 1 by Barchart.com. If the $16.44 price target is reached, the company will be worth $25.49 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 11.18% or $1.04 on September 30, hitting $10.34. About 31,055 shares traded hands or 57.78% up from the average. Acorn International, Inc. (ADR) (NYSE:ATV) has risen 84.31% since February 29, 2016 and is uptrending. It has outperformed by 73.89% the S&P500.
According to Zacks Investment Research, “ACORN INTERNATIONAL, INC. is a leading integrated multi-platform marketing company in China, operating China’s largest TV direct sales business in terms of revenues and TV air time and a nationwide off-TV distribution network. Acorn’s TV direct sales platform consists of airtime purchased from both national and local channels. In addition to marketing and selling through its TV direct sales programs and its off-TV nationwide distribution network, Acorn also offers consumer products and services through catalogs, outbound telemarketing center and an ecommerce website. Leveraging its integrated multiple sales and marketing platforms, Acorn has built a proven track record of developing and selling proprietary-branded consumer products, as well as products and services from established third parties.”
More notable recent Acorn International, Inc. (ADR) (NYSE:ATV) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 12, 2011, also Bidnessetc.com with their article: “What’s Going on With Acorn International?” published on December 02, 2015, Bidnessetc.com published: “Here’s Why Acorn International Skyrocketed Today” on January 11, 2016. More interesting news about Acorn International, Inc. (ADR) (NYSE:ATV) were released by: Prnewswire.com and their article: “Acorn International Announces ADS-to-Share Ratio Change” published on November 19, 2015 as well as Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: January 11, 2010.
ATV Company Profile
Acorn International, Inc., incorporated on December 20, 2005, is a marketing and branding firm in China that develops, promotes and sells a portfolio of branded products. The Companyâ€™s business is comprised of two main divisions, direct-sales platforms and its nationwide distribution network. The direct-sales business involves marketing and selling products directly to clients in China through its outbound marketing platform and Internet sales platform. In addition, the Company maintains a nationwide distribution network through which it distributes a select number of its products promoted by the direct-sales platform. The Companyâ€™s distribution network covers all provinces in China through more than 29 distributors, and allows us to reach over 2,200 retail outlets across China.
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