Penny Stocks Watchlist: RAYS Dips Hard and LEXG Rallies

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Penny stocks, you always hear about how dangerous and volatile they are. Yet many traders can’t help but be drawn to them. Today we saw just how volatile and crazy the penny stock market can be.

Raystream Inc. (OTC:RAYS) dipped hard around the lunch hour, falling more than 30% and hit an intraday low of $1.52. The stock has since recovered some and is trading at $1.72. RAYS has been all the rage lately as it is currently being pumped. Today’s dip could spell trouble for many investors as a panic could cause a full fledged ‘dump’. The company also released news today, announcing the their live streaming video compression technology. RAYS has traded over 7.55 million shares today, 4 times its daily average.

Lithium Exploration Group Inc. (OTC:LEXG) rallied over 50% so far today at $1.34. LEXG became infamous earlier this year after it was pumped from $1 to $10 and dumped back to $1. The stock has jumped over 100% in the past few days. No news on the company, it looks like daytraders coming in and out or maybe some kind of small pump behind it. LEXG has traded nearly 1 million shares so far today, nearly 10 times its daily average.

Other penny stocks seeing action today are Curaxis Pharmaceuticals Corp (PINK:CURX) up 127%, WikiLoan Inc. (PINK:WKLI) up 53% and White Smile Global Inc. (OTC:WSML) up 13%.

If you’re interested in learning more about the volatile penny stock markets head on over to our partner site Pennystockstrategy.com. There you will find daily coverage of the otc and otcbb markets.