Finally a decent green day for Wall Street. After a declining in the past couple of weeks, stocks bounced today as investors look to buy over sold stocks. This could be a short lived rally though as Europe continues to be a problem.
The Facebook IPO continues to be a huge disappointment after financial pundits and ‘experts’ hyped the stock over the past month. Facebook is currently trading down more than 10% at $34.2, below its IPO price of $38 and well below its high of $45.
The main penny stock pump, GWBU, is off to a slow start as it is trading in the red today.
Great Wall Builders Ltd. (OTC:GWBU) is down about 8% today as its pump starts slow. Many traders were able to guess the newest pump before it became “official” sending the stock up from around $0.50 to over $1. GWBU has been releasing news on a daily basis over the past few days with most of the news revolving around its distributor, NESS Tech.
Sunpeaks Ventures, Inc. (OTC:SNPK) is up 18.46% today at $0.1540. SNPK has traded 6.4 million shares so far today and trades 24.6 million shares a day on average. This once high flying pump has seen a 100% bounce over the past couple of days after hitting a low around $0.08.
Luxeyard, Inc. (PINK:LUXR) is down 10.24% this afternoon at $1.14. LUXR has traded 612 thousand shares so far today and trades 944 thousand shares a day on average. LUXR has dropped $1 after a massive rally in April sent the stock from $0.60 to over $2.
We never hold a position in stocks we cover and are not investment advisors. This is for entertainment purposes only.