Tuesday, May 13, 2008

Nautilus Soars On Heavy Volume; NYSE Requests Statement

“Shares of Nautilus Inc. soared on heavier-than-normal volume Monday, reaching a 5-month high in intraday trading. A spokesperson for the fitness product maker was not immediately available for comment. The stock hiked up 31% at $6.77 on volume of 1 million shares, closing in on triple the full-day average over the past 30 days of about 383,000 shares. The intraday high of $6.82 was the highest price seen since Dec. 11. NYSE Euronext the exchange on which Nautilus shares trade, said it contacted the company requesting a statement whether there are any corporate developments which may explain the unusual activity in the stock. The shares have now more than doubled since the April 25 close of $3.25. Nautilus said it was conducting 'a thorough review of each business unit, with particular focus on operating effectiveness and costs, market positioning and product innovation.’”


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