NEW YORK, NY / ACCESSWIRE / October 8, 2018 / Shares of Alliance MMA and Coherent may have went in separation directions on Friday but both experienced unusual activity without any company news nor catalyst.
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Alliance MMA, Inc.
Alliance MMA, Inc. shares were up 34.29% on Friday with over 4.8 million shares traded. The stock's trading volume was more than four times higher than usual despite any news from the company. There was also no catalyst to explain the unusual share price jump and activity. It was several months ago that the company announced that it had entered into a multi-year sponsorship and marketing contract with Maximum Human Performance (MHP) which will include brand promotion through live events and professional athletes. The partnership with MHP will feature event sponsorship of Alliance MMA’s televised and live streamed events including Victory Fighting Championship which currently streams live on UFC Fight Pass, the Ultimate Fighting Championship’s digital streaming platform. Endorsement deals had also been signed with SuckerPunch Entertainment athletes and UFC Fighters Paul Felder, Brian Kelleher, Karl Roberson, Angela Hill, Carla Esparza, and Sergio Pettis.
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Coherent, Inc. shares closed down 8.75% this past Friday on a little over 717,000 shares traded. There was no news from the company but it was at the start of the month that Coherent announced a change to its board of directors. The company has appointment Mr. Mike McMullen to the Board of Directors, which was effective as of September 28, 2018. Mr. McMullen currently serves as the President, Chief Executive Officer and a member of the board of directors of Agilent Technologies, one of the world's leading life sciences tools and diagnostics companies. Mr. L. William Krause had also informed the Board that, pursuant to and in accordance with the mandatory age retirement policy of the company's Governance Guidelines, would be retiring at the end of his current term and not stand for reelection at the next annual meeting of stockholders. Garry Rogerson, Coherent's Chairman of the Board of Directors commented, "Bill has served with distinction ever since he joined the Board in 2009. He has helped lead Coherent through a very exciting part of its history and has been an instrumental voice in guiding the Board and management to continue to drive stockholder value. We look forward to his continued perspectives and judgment during this Board term. On behalf of the entire Coherent family—Board, employees and stockholders—we wish Bill nothing but continued success and thank him greatly for his service to our company."
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