SNPK Collapses in Epic Fashion and 4 Penny Stocks With Heavy Volume

penny stocksThe broader market is taking a breather today after the monstrous snap-back rally yesterday. Earnings from Intel and IBM are not helping matters as they both came in as a disappointment. Overall earning season has been good one so far but many analysts worry about the overall lack of confidence in the market. It shifts with the slightest change in wind.

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In the world of penny stocks traders are getting a lesson in what happens when a pump runs out of gas. It falls off a cliff. The pump du jour over the past few weeks has been SNPK and it looks like its number was called today. At around 11am, the bottom fell out of the stock which had been trading in the $2 range. And like all dumps, it was fast and furious. Like going into a crowded room and yelling fire. Everyone hit the eject button at once.

Sunpeaks Ventures, Inc. (OTC:SNPK) is down big today as the dump arrives. SNPK is currently down 40% at $1.34 after hitting a high of $2.40 this morning. SNPK is seeing extremely high volume today with 40.7 million shares traded, twice its daily average.

SEFE, Inc. (OTC:SEFE) is down slightly today at $1.50. SEFE has traded 4.6 million shares so far today, way above its daily average of 756 thousand shares. SEFE shares have rallied $0.30 a share in the past week and nearly 100% in the past couple of weeks.

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American Liberty Petroleum Corp. (OTC:OREO) is up 13.33% in midday trading at $1.70. OREO was as high as $1.87 shortly after market open and has traded 2.6 million shares so far today. OREO shares have jumped more than $0.40 in the past week.

Converted Organics Inc. (PINK:COIN) continues to be very active, but is seeing little movement today and is currently trading at $0.0230. COIN shares saw its big move on Monday when it shot up from $0.016 to $0.028.

Liquidmetal Technologies Inc. (OTC:LQMT) is up 24% today at $0.1860. LQMT opened at $0.15 this morning and quickly shot up to $0.2150 before selling off some. LQMT has traded 5.2 million shares so far today, 4 times its daily average.

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About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

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