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Pulse Electronics Sees Big Fluctuation in Stock

Shares of Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, skyrocketed 53 percent on Sept. 9 to $3.10 before falling back to $2.50 as of mid-day Sept. 10.

The run-up in the stock caused the company to issue a statement that it has been in contact with the New York Stock Exchange where its stock trades, and had no comment on the recent activity.

Since mid-March the stock, traded under PULS, has fallen from about $4.50 to just above $2 until Sept. 9 when it soared.

In early July, Pulse’s former Chairman, CEO and President, Ralph Faison, resigned. Alan Benjamin, the company’s COO, was named interim CEO while the company embarked on a search for a permanent replacement.

Faison’s resignation came on the heels of being notified by the NYSE that it wasn’t in compliance with the minimum listing requirements. Specifically, the company’s average market capitalization was below the $50 million threshold. The firm was given 45 days to develop a plan to demonstrate how it would comply with minimum listing requirements over a nine-month p

Based on the Sept. 9 closing price of $3.10, Pulse’s market cap was $43.3 million.

The business has been losing money in recent years, reporting net losses of $27 million last year, and $32 million in 2012.

For the second quarter, it reported a net profit of $1.7 million on revenue of $93.6 million. That compared with a net profit of $1.6 million on revenue of $88.3 million for the like quarter of 2013.

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