On June 5, the following stocks were determined to be overbought: Standard Microsystems Corp, and BioSante Pharmaceuticals, Inc. The demand for these stocks have pushed the prices of the underlying assets to levels that do not support the fundamentals. This is interpreted as a sign that the stocks are overvalued and may experience a pullback.
Shares of Standard Microsystems Corp (SMSC) traded higher by 0.19% or $0.07/share to $36.66. In the past year, the shares have traded as low as $17.98 and as high as $36.88. On average, 533580 shares of SMSC exchange hands on a given day and today's volume is recorded at 53027.
Shares of BioSante Pharmaceuticals, Inc (BPAX) traded higher by 17.22% or $0.47/share to $3.2. In the past year, the shares have traded as low as $0.34 and as high as $4.02. On average, 2719460 shares of BPAX exchange hands on a given day and today's volume is recorded at 1196081.
