The stock market is in a steep decline today as traders worry about the ongoing euro debt crisis. The credit rating agency, Moody’s, also said today that last week’s agreement will not stop them from potentially downgrading credit ratings for certain EU countries. The major stock indexes are all down nearly 2% with the Dow down 223 points, the Nadsaq down 47 points and the S&P is down 24 points. [click to continue…]
Amwest Imaging released a PR about an hour ago saying it was wrongfully named in lawsuit and will defend action and seek damages.
Here’s some of what the company had to say about George Sharp’s accusations.
“Mr. Sharp’s press release contains numerous misstatements of facts attributed directly to Mr. Sharp to include where the Company is located, the nature of the ownership of the Company, alleged relationships to others and a defamatory assertion that the Company is not successful. The Company is informed and believes that Mr. Sharp has filed similar civil actions against numerous other public companies alleging fraud, misrepresentation, violation of California Corporations Code and Business and Professions Code. [click to continue…]
Amwest Imaging Incorporated (OTCBB:AMWI) is going absolutely crazy this morning, up 76% at $1.10. AMWI has traded 15.8 million shares so far today. This is one of the craziest pumps I have ever seen. It’s not everyday a stock gets pumped from $0.15 to over $1 in just a few weeks. I have no idea how high AMWI will go, but when the dump comes it will be something to see.
The company hasn’t released any news today, but if the pump continues we could see some news sometime next week. [click to continue…]
Penny stocks roared today as the overall market whimpered. AMWI, GNTA, FMCC, THWI and WLOL all saw of more than 20% today on good volume.
Amwest Imaging Incorporated (OTCBB:AMWI) rose 57.83% today at $0.6250 with an intraday high of $0.6750. AMWI traded 29.3 million shares today. The company announced the acquisition and the worldwide launch of www.lokdrop.com. AMWI is also being heavily promoted right now and will continue to be in the coming days and weeks ahead. As always with pumps, expect the dump at any point.
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Before we dive right in to penny stocks, let’s take a look at what the overall stock market is looking like this morning. The markets are mixed this morning following a warning from Standard & Poor’s to the euro zone about a potential credit downgrade. These warnings come right as it seems like Europe is beginning to get its act together towards finding a solution to their debt crisis. The Dow is heading back up after being slightly negative earlier today with a 52 point gain right now. The Nasdaq is down 4 points and the S&P is up 1 point. [click to continue…]
Penny stocks continue to ruled by AMWI and RAYS. These two stocks have been the most traded stock in the otc market for weeks now. Both have been and are being heavily promoted, and have news released on a regular basis.
Amwest Imaging Incorporated (OTCBB:AMWI) is up 9.62% today at $0.2747 with an intraday high of $0.2781. AMWI has traded more than 10 million shares so far today. AMWI has been going steadily up the past four trading sessions moving from $0.18 to $0.26. [click to continue…]
Despite the overall market having a great day, things are quiet in the OTC and OTCBB markets. It looks like traders have moved towards the big boards for the time being or traders are still making their way back from holiday trips. We’ll probably see penny stocks pick back up later this week. Let’s take a look at the most active OTC stocks so far today.
Legend Oil and Gas, Ltd. (OTC:LOGL) is down 21.38% today at $1.25 in midday trading. LOGL has traded more than 1 million shares so far today, well above its daily average of 339 thousand shares. LOGL was in the news last week after a series of short seller articles were published on Seeking Alpha and accused LOGL of engaging in stock promotion activities. Following the release of these articles, LOGL shares fell from $1.80 to a $0.60. The following day, LOGL released a PR denying all allegations and the stock rose back up and closed on Friday at $1.59. [click to continue…]