Luna Innovations (LUNA) and Dataram (DRAM) Up On High Volume

There are some strange goings-on on the Top Gainers List today. There are some impressive moves, like the +150% that Luna Innovations (Nasdaq:LUNA) achieved on 10X average daily volume.

But when we put them to the test of my Top Gainer criteria, I can't see why Luna is moving higher. According to a press release on the corporate website, "…the company has been selected 13 U.S. small businesses to enter into negotiations for an award in the Photovoltaic (PV) Technology Pre-Incubator program of the U.S. Department of Energy's National Renewable Energy Laboratory (NREL)."

Read carefully. Luna has not been awarded anything. It's simply been invited to negotiate for an award. That doesn't sound like good reason for a 153% gain...

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