Knickerbocker Has No Explanation for Stock’s 43% Jump
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.â€
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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