Hope reigns supreme on the broader market, while a pumped stock was introduced to gravity in a big way way today. The major indices hit a 5-week high as traders continue t hope for Ben Bernanke to ride in and dump QE3 in their laps. Granted the hope may be a bit premature with the Greek saga now entering the rerun stage. The pro-bailout parties won, but the country is still over its head in debt, and the country is poised to run out of cash in July. Sign Up For Free Stock Alerts
While summer is traditionally a slower time for penny stocks, you can’t detect a hint of a volatility slowdown in the otc and otcbb markets. One of the more notorious pumpers saw utter destruction in their pump after it collapsed over 60%, while chat-rooms and message board continued to have fun with a perennial favorite.
Like everything in penny stocks, it pays to be a nimble trader. The outsized rewards definitely come with risks.
Great Wall Builders Ltd. (OTC:GWBU) closed the day down 9.41% at $1.54. Volume was lighter than in recent days with 4.6 million shares traded with a daily average of 8.1 million shares. GWBU is currently being pumped, but hasn’t seen a lot of movement as it has stayed in the mid to upper $1s for the past month. The company has released steady PRs with the latest one coming this morning stating the company has adapted FEED unit for marine industry.
Liquidmetal Technologies Inc. (OTC:LQMT) finished up 24.83% today at $0.3620. According to an SEC filing this morning, Apple has extended its deal with Liquidmetal for another two years. LQMT traded 8.3 million shares today, double its normal volume of 4.4 million shares.
Global Gaming Network Inc. (OTC:GBGM) closed down 65.83% today at $0.0650 and is now down more than 80% over the past week. GBGM was a pump from one of the bigger groups and many traders learned a harsh lesson trading penny stocks today. These kind of plays are called ‘pump and dumps’ for a reason. The dump always happens, just a matter of when not if.
AGR Tools, Inc. (PINK:AGRT) closed up 46.94% at $0.36. AGRT traded 4.5 million shares today, way above its average volume of 73 thousand shares. AGR Energy, a subsidiary of AGR Tools, announced it has entered agreement to acquire more than 2,000 acre oil and gas lease. Sign Up For Free Stock Alerts
About Martin Stephenson
