Mossimo Shares Jump 33% on Five Times Usual Volume

Shares of troubled apparel designer Mossimo Inc. surged 33% to $5.25, on Tuesday, making the company the sixth-biggest gainer on the New York Stock Exchange. A company spokeswoman declined to comment on the stock run-up and founder Mossimo Giannulli didn’t return phone calls.

The company, which has been beset by growing losses and a string of executive-level departures, has been looking for a president to replace operations chief Eric Hohl, who resigned late last year. In the interim, turnaround specialist John Brinko, who helped restructure Barneys New York after it filed for bankruptcy, has been brought aboard.

More than 240,000 shares exchanged hands Tuesday, nearly five times the average daily volume over the past three months. The shares are trading at their highest level since Dec. 5.