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Momentum Traders Dive Into Ocean Power Technologies

For the second time in the past two months, Ocean Power Technologies Inc (NASDAQ: OPTT) is making huge, high-volume trading swings. After the company announced last week that it has developed a newer version of its PowerBuoy, shares spiked 61.4 percent on Thursday and another 75.2 percent on Friday before opening Monday’s session down 15.9 percent.

Back at the beginning of June, the stock surged 300 percent in one day following news that Ocean Power had entered into its first commercial agreement with Mitsui...