Penny stocks continue to see multiple big winners this week as the overall market is looking weak today. Continued uncertainty in Europe is causing investors to sell off some. The markets have recovered slightly though and are getting close to breaking even. The Dow is down 26 points right now, the Nasdaq is up 4 points and the S&P is down 2.19 points.
AMR Corp. (OTC:AAMRQ) is up another 25% today at $0.7208 with an intraday high of $0.74. American Airlines reassured their employees today telling them most will get full pensions even if the company terminates its retirement plans in bankruptcy. AAMRQ has traded 15.2 million shares so far today and trades 34.4 million shares a day on average. AAMRQ is a bankrupt company, so when it comes out of bankruptcy these shares will be worthless. The company has a market cap of 238.31 million.
Ecoland International Inc. (OTCBB:ECIT) is up 73.39% today at $0.40. D&R Technology, a subsidiary of Ecoland International, was awarded a contract to manufacture and develop tooling for new 2012 Toyota vehicle. ECIT has traded 4.6 million shares so far today
Cord Blood America (OTCBB:CBAI) is up 55.91% today at $0.0435 with an intraday high of $0.0451. CBAI has traded 9.4 million shares so far today. CBAI shares are up more than 100% over the past two weeks.
We never hold a position in stocks we cover and are not investment advisors. This is for entertainment purposes only.
Penny stocks were enjoying multiple runners today as the broader market continues to trade sideways. Never ending concerns out of Europe continue to hold the market back. Whether or not Greece can secure another bailout or debt restructuring seems to be in doubt at this point. Most of the market is beginning to expect that a Greek default is inevitable at this point. In the penny stock market, the trend is always there isn’t one. Day traders have latched on to the two new Q stocks and a former pump is enjoying exposure in the New York Times.
The three penny stocks making the biggest waves today are ACTC, EKDKQ and AAMRQ.
Advanced Cell Technologies (OTCBB:ACTC) is enjoying some cautiously positive coverage out of the New York Times. A pumping favorite, ACTC was featured in a stem cell article this morning. In the article, the NY Times talked about the recent success ACTC has had with embryonic stem cell therapy. They were quick to point out that the company’s desire for publicity normally leads them to report results before finishing the study.
Currently ACTC is up over 20% with 52.4 million shares changing hands. News out of the company this morning was the announcement of Europe’s First Human Embryonic Stem Cell Transplant in Patient with Stargardt’s Disease. It will be interesting to see if the flurry of press releases continue on the stock to build off the top tier media coverage.
The bankrupt stock of Eastman Kodak (OTC:EKDKQ) continues to be a day traders favorite. Not meaning to sound like a broken record but people new to penny stocks should not fall for the hype of these Q stocks. They are bankrupt stocks and if they emerge from bankruptcy the shares are worthless.
Volume on EKDKQ continues to be heavy with 33.7 million shares traded today. the stock finished up just over 11% to $.3480. In after-hours the company announced they were replacing their restructuring officer they appointed just days ago. Definitely one to watch over the coming days as the stock whipsaws with day tarders jumping in and out.
The other Q stock making moves today is the bankrupt stock of AMR Corp (OTC:AAMRQ). Up over 20%, AAMRQ is like the kodak stock, a day trader’s dream. Volume on the stock was below the 3-month average as the stock trended up all day. News today was a report that US Airlines was creating a path to merge with American Airlines.
Overall the market continues to be dominated by news out of Europe. Any direction for the market will be predicated on what happens with the sovereign debt crisis.
We never hold a position in stocks we cover and are not investment advisors. This is for entertainment purposes only.
While the broader market is whipsawing with the conflicting economic data, penny stocks are entering midday trading with quite a few gainers. Some of the movers today are former pumps that refuse to quit and one is a recently bankrupt company. Volume is picking up in the otc markets with multiple stocks deep over a million shares traded. Dollar volume is also picking up as we hit midweek. Two stocks to watch in midday trading are NSRS and AAMRQ.
North Springs Resources (OTCBB:NSRS) is having a snap back rally today after the stock had a rough day yesterday. Currently up over 20%, NSRS is riding news this morning that said they were preparing to acquire interest in a gold property in Ghana that is located one mile away from a $2 Billion mine. Volume on the stock has been heavy with over 10.5 million shares changing hands. News from the company has been fast and furious over the past week with nearly daily press releases.
While NSRS is fun to watch traders should be careful as it gets further and further from its initial pump. Volume has been drying up after the initial surge in late December 2011. Any positive move can be quickly reversed as evidenced yesterday when it had a double digit drop. A definite buyer beware on this if you are looking to get in.
The bankrupt stock of American Airlines Corp. (OTC:AAMRQ) has become a day traders haven of late. Nothing is really driving the moves cause the stock is essentially worthless due to rules governing ‘Q’ stocks. It can be halted at any time and when the company emerges from bankruptcy the shares become worthless. Up nearly 20% currently, the stock has been whipsawing over the past month as traders dive in and out. Unless you are used to these types of plays, it would be smart to sit on the sidelines. It may be entertaining to watch on level 2 but those moves can quickly reverse on you. Better to err on the side of caution instead of risking your portfolio with a stock that is technically worthless.
We never hold a position in stocks we cover and are not investment advisors. This is for entertainment purposes only.
The penny stock market is getting off to a relatively slow start on this second Monday of 2012. The promoter side of penny stocks is reeling after POWT dropped like a rock on Friday. What was built up to be the first big promo of 2012 is now looking like a one and done scenario. Judging by the front-load of volume before the pump either the promoters are extremely greedy and destroyed their list or they have a serious leak issue. [click to continue…]
Stocks are coming off their lows today as jobs numbers helped the market avoid a bigger sell off on Europe worries. The Dow is down 25 points right now, the Nasdaq is up 12 points and the S&P is up 1 point.
Penny stocks are seeing a lot of big moves today with a new pump starting on POWT and AAMRQ hitting the OTC this morning. [click to continue…]
