The Week’s Biggest MoversFriday, October 4, 2013
The Los Angeles Business Journal’s index of largest local public companies fell for the week.
The weighted LABJ Stock Index closed down 0.6 percent to 170.51 for the trading week ended Oct. 4. Decliners outpaced gainers 80 to 74, with 11 companies unchanged.
One of biggest movers was NetSol Technologies, dropping 15 percent to $8.55. The Calabasas finance and leasing software firm came under scrutiny from a short-seller who published his negative outlook on the company on investment website Seeking Alpha.
Beverly Hills entertainment technology firm RealD Inc. also dropped 11 percent to $6.41 as investors continue to question the popularity of 3-D movies.
Among the gainers was downtown Los Angeles real estate developer Evoq Properties. Shares rose 8 percent to $6.50 as the company sold a six-acre site in downtown Los Angeles for $80 million.
Also gaining was apparel maker Joe’s Jeans of Commerce. Shares rose 6 percent to $1.18 after the company closed the acquisition of Hudson Jeans.