Penny stocks didn’t get to lay claim to volatility yesterday. It returned with a vengeance on the broader market as investors got their first chance to digest the jobs number from last Friday. One takeaway that should give the bulls some solace is that the route was not volume heavy. Volume was light so it showed that the majority of investors were in a wait and see mode.
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In the world of penny stocks, it is all about the pumps. SNPK, once thought a one and done continues to defy expectations and climbed above a dollar today. Could be the recent acquisitions of several promoters into one giant promoter that is helping keep this one alive. As always, trade nimble if penny stocks interest you. Those moon shots are fleeting so be happy when you make money and leave. [Read more...]