TrueCar, CytRx Among Week’s Big MoversFriday, May 30, 2014
The Los Angeles Business Journal’s index of largest local public companies rose for the week.
The weighted LABJ Stock Index closed up 2.6 percent to 193 for the trading week ended May 30. Gainers outpaced decliners 112 to 43, with seven companies unchanged.
The biggest mover was TrueCar in Santa Monica. Shares jumped nearly 18 percent to $10.96 as the company continued a rebound from its lower-than-expected IPO price of $9.
Shares in biopharmaceutical researcher CytRx Corp. also rose 15 percent to $4.18 after successful test results in mid-stage trials of a drug that treats soft-tissue sarcoma.
The biggest loser this week was Motorcar Parts of America in Torrance. Shares dropped 12 percent to just under $24 a share.