Penny stocks are once again being dominated by a fresh round of pumps. After several fake-outs, the new big promotion was confirmed to be GWBU. So far it is not off to a stellar start, giving up gains as investors front-loaded the stock heading into the promotion. You know it is not a good start when notorious penny stock shorter, Timothy Sykes, is already circling the stock.
Other notable active penny stocks are mostly former pumps and few message board / chat room plays. Traders in these types should be nimble on their entries and exits because like anything in the world of penny stocks, volatility reigns supreme.
On the broader markets, the major indices are whipsawing around as investors are waiting for the next shoe to drop in the ongoing EU soap opera.
Great Wall Builders Ltd. (OTC:GWBU) is down 4.55% in midday trading at $1.47. GWBU jumped as high as $1.65 this morning on 16.7 million shares traded. GWBU is the latest pick from the same group that pumped SNPK to over $2. Although it looks like traders got a head start as millions of shares were bought before the pump officially began. As with all pumps expect a ton of daily volume and a dump at some point in the near future.
Sunpeaks Ventures, Inc. (OTC:SNPK) is down 23.64% today at $0.0850. The once high flying SNPK continues to fall as the pump is over. SNPK was once trading as high as $2.40, but quickly tanked and is now a fraction of what it was when the pump first started.
Eyes on the Go, Inc. (PINK:AXCG) is up 75.68% today at $0.0650. AXCG got off to a fast start as it hit $0.1565 shortly after market open before collapsing back down below $0.07. It looks like some traders latched onto a PR released by the company yesterday saying they estimate to have $56 million in revenue in 2015.
Luxeyard, Inc. (PINK:LUXR) is down 19.48% today at $1.24. LUXR has traded 1.4 million shares so far today, well above its daily average of 911 thousand shares. LUXR shares have fallen $0.75 a share over the past week.
Multicell Technologies, Inc. (OTC:MCET) is up 64% today at $0.0041 with an intraday high of $0.0059. MCET has traded 91 million shares so far today. Multicell Technologies announced positive preclinical results for MCT-465 and MCT-485 this morning.