Another volatile day in penny stock land with multiple winners and few stocks tanking. On the broader market the top indexes are enjoying a bullish start to February. Riding optimistic data points the Dow is up over 120 points, while the Nasdaq is tacking on nearly 40. The rally is on the heels of the Amazon miss last night, so it looks like the overall market is shrugging that off.
The top penny stocks to watch today include North Springs Resources (OTCBB:NSRS), Advanced Cell Technology (OTCBB:ACTC) and Ecoland International Inc. (OTCBB:ECIT).
NSRS is the pump that just won’t fade into oblivion. Up over 10% today, North Springs continues to release press releases at a fever pitch. Yesterday the company announced that it is now active in three gold exploration projects. NSRS continues to develop their Goldstar project. Volume today is heavy but off its highs set earlier in January. Currently nearly 8 million shares have changed hands in intra-day trading.
Advanced Cell Technology is enjoying a bit of a bounce today after its negative streak of the past week. Currently up over 15%, the company announced on Monday that is was Aberdeen Royal Infirmary in Scotland for a second site of its clinical trials. Volume is heavy today with the stock trading double its 3-month average. Right now over 35 million shares have been traded as the market enters its final hour of trading.
Ecoland International is continuing its improbably run, up another 12% in intra-day trading. The company is riding a huge run fto well over a dollar. Today ECIT announced that they were signing a Letter of Intent to manufacture water treatment systems for Judo Water. Volume continues to be heavy, though it is off yesterday’s levels. Nearly 4 million shares have been traded so far today as the market heads into the close.
Overall the market is being buoyed by optimism that the recovery is finally here to stay. Outstanding issues still remain like the Greek debt and overall fiscal solvency of the EU. Couple that with the dysfunctional political process here domestically and all the positive data points in the world may not be enough to get the economy on a solid footing.
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.
The normally volatile penny stock market seems to be in a wait and see mode like the broader market. Most of the heavily traded penny stocks are former pumps that are still churning volume. Normally that would be a day traders dream, but the lack of definitive price action one way or another is making for a boring day on the otc and otcbb markets. The one outlier is ACTC, a former pump that is dropping more than 10%.
North Springs Resources (OTCBB:NSRS) was supposed to be one of the major pumps of 2012 but seems to have run into a wall. Currently down slightly the company announced today that it had completed funding commitment of its Goldstar property. The press release this morning also announced NSRS was proceeding with a drill program to confirm gold estimates on the property. Volume on the stock has been brisk this morning with nearly 4.5 million shares changing hands in morning trading.
Advanced Cell Technology (OTCBB:ACTC) is the big loser on the day dropping nearly 10%. No news is out that is causing the downturn, looks to be profit taking. The stock has run up from 8 cents in previous days to 16 cents. So traders are probably taking money off the table. Volume on the stock is already past its 3-month average trading nearly 15 million shares this morning. Recent news has ACTC gearing up for the Biotech Showcase in San Francisco. [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…]
