Penny Stocks to Watch: NSRS, CBIS, GDSM, LOGL

penny stocks

Stocks opened lower this morning with the Dow down as much as 80 points. That quickly changed however once news that pending home sales rose to the highest in 2 years and the price of oil began to fall. Pending home sales rose 8% last month, way above the 1% economists were estimating. Falling oil prices also helped the market turn positive as prices fell $1 to about $109/barrel. At midday, the Dow is up 28 points, the Nasdaq is up 8 points and the S&P 500 is up 4 points.

As always penny stocks are showing a lot of volatility today.

North Springs Resources Corp (OTC:NSRS) continues its downward spiral today and is down 15.82% at midday. Anyone following penny stocks knows all about NSRS. The stock started getting pumped in late December at less than $0.20. From there it went as high as $0.90 in mid to late January before dipping back into the $0.50s. NSRS then had another run from the $0.50s to a high of $1.72 on February 7. Since then, it has fallen all the way to where the pump began and is currently trading at $0.1780. As will all pump, there will always be an inevitable dump back down to where the pump started or even lower.

Cannabis Science Inc. (OTC:CBIS) has been rallying over the past two weeks after signing multi-company acquisition and licensing deals. The company has kept releasing news at a steady pace since then as well. They appointed former Walgreens Executive Pharmacist Dr. Moe Afaneh as Chief Operation Officer. CBIS is up 18.75% today at $0.1045 and is up more than 300% in the last two weeks.

Gold Coast Mining Corp.(PINK:GDSM) has rallied about 600% since February 14. The stock is up 46.50% today at $0.0293. Gold Coast Mining announced on February 14 they entered joint venture with Western Sierra Mining and option to acquire Gold Star Mine claims.

Legend Oil & Gas Ltd (OTC:LOGL) is currently trading at $1.18 and is up 12% today. LOGL started rallying on Feb. 22 and was trading at $0.90 then. LOGL’s move up could be due to the recent increase in oil prices as investors look for any company in that sector and buy up shares.

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About Danny Fisher

Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.

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