Knickerbocker Has No Explanation for Stock’s 43% Jump
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RANCHO SANTA MARGARITA — L.L. Knickerbocker Co. stock soared 43% Thursday to close at $14.125, up $4.25 per share in Nasdaq trading, but the company offered no explanation for the sudden jump.
The increase followed a relative period of quiet at the company that, just a year ago, saw its shares rocket to $52 from a low of $4. The company that markets a wide variety of products for other companies completed a 5-for-1 stock split in 1995 and, early this year, the stock was trading at about $8.
At the time of last year’s dramatic increase, the stock was being touted by controversial stock trader Rafi Khan. On Thursday, Kahn would only describe Knickerbocker’s latest move as “interesting.”
Some market observers suggested that the stock surge was related to a possible initial public stock offering by Pure Energy Corp., a small, New Jersey-based company. Two months ago, Knickerbocker took a controlling stake in the company that claims to be developing a low-cost alternative fuel with low emissions.
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