Top performing stock to watch: One of the largest U.S. stock market makers, Knight Capital Group Inc. (KCG) stock price rallied substaintially Friday, to close at $4.05, a big increase of 56.98%. The intraday volume jumped to 121 million shares, well above the daily average of 8.58 million shares. Knight Capital currently has a market capitalization of $ 398 million.
Fox Business News cited resources familiar with the situation, reporting that Knight Capital CEO, Thomas Joyce, is considering bankruptcy reorganization of the company. The report said Joyce may seek to sell the assets of the company.
Knight Capital suffered a loss of 440 million as trading faults. Its market value plummeted from $1 billion to a minimum of about $211 million. The Wall Street Journal quoted sources, saying that Virtu Financial is negotiating with Knight Capital over merger or capital injection.
Knight Capital is a company engaged in market making, electronic orders, institutional sales and trading, it provides transaction services to 19 000 listed stocks in the United States. In 2011, Knight Capital was ranked as the number-one market maker based on retail trading volume on the NYSE and Nasdaq.
KCG stock performed well, making it the top performing stock today. Over the past 52 weeks, KCG stock price traded as low as $2.27 and as high as $14.00 and the current price is 71.07% off the top. The latest KCG stock price is much lower than its 50-day moving average of $11.23 and 200-day moving average of $12.32.