Matrixx Shares Spike On Zicam Rumor Print E-mail
By Staff and Wire Reports   
Thursday, 03 September 2009 13:00
Shares of Matrixx Initiatives, Inc. (NASDAQ:MTXX) spiked on Thursday afternoon based on rumors that the company has submitted a new Zicam formula to the FDA.

The FDA on June 16, 2009 warned MTXX that two of its cold remedies may have been causing a loss of smell.

Prior to the June warning by the FDA, in which the company warned consumers not to use certain Zicam nasal products, Matrixx shares sank from over $20 per share.

MTXX September option implied volatility is at 135, October is at 151, January is at 126; above its 26-week average of 91, according to Track Data, suggesting large price movement.

 




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