ZOOM Tech (ZOOM) Momentum Accelerates Into the Close, +232%

The upside in ZOOM Tech (Nasdaq: ZOOM) has accelerated into the close.�Earlier today we noted the 100% upside move in the stock --- now the stock is up 232%. Traders are reacting to positively to news from the company about its recently approved acquisition, Gold Lion.

Zoom noted: Gold Lion's Q2 2009 revenue increased 354% to $53.1 million; net income in the quarter grew to to $1.7 million, versus a net loss of $0.1 million last year; Gold Lion management's full year 2009 net revenue guidance in the range of $145 million to $155 million, versus $81 million in 2008; Gold Lion management's full year 2009 net income guidance in the range of $5.9 million to $6.1 million, versus $2.8 million in 2008.

Zoom Technologies said the acquisition of Gold Lion is expected to close this month.

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