Penny Stocks on the Move on Sept 27: PCWT, BZNE, WTER, TTNP, NNRX
US stock markets are heading down today, despite the slightly positive fundamental news which came out at the opening bell.
The OTC Markets are following the general trend, as the OTCM ADR Index is down 0.13% at 1,512.04 points. On this background there will be fewer opportunities for speculation on the penny stocks market today:
Pacific Clean Water Technologies, Inc. (PCWT) – PCWT is heading up today, following a corporate update which was issued by the company a couple of hours ago.
Earlier today, PCWT announced that through its subsidiary, Western Water Consultants, the company was working on eliminating the need for holding ponds at the Garlic Company.
The announcement produced enough demand for PCWT stock to support another jump in its share value. Thus, currently shares of PCWT stock are trading 7% higher at $0.24 per share on a higher than average volume of 5.8 million.
By the looks of it, market speculators are not bothered at all by the fact that the company was marked with the skull and cross bones sign by the OTC Markets a couple of weeks ago. Eventually this stance of penny stock traders playing with PCWT stock may become costly, if it turns out that PCWT has really been an object of pump and dump scheme.
Biozone Pharmaceuticals, Inc. (BZNE) – BZNE is also going up today despite the decline of the OTC Markets.
Currently, the stock is climbing up the charts without any obvious reason. There hasn’t been any recent corporate updates whatsoever by the company, nor have there been any recent SEC filings. Nevertheless, the trading interest towards BZNE stock today is huge, as it has already generated one of the highest trade values on the OTC Markets for the day – $1.45 million.
Yet, the move of the stock seems rather speculative given the lack of any recent news releases. From a technical point of view, BZNE has broken above its resistance thanks to the increased buying pressure on the stock.
Currently shares of BZNE stock are trading 6% higher at $0.72 per share on a higher than average volume of 1.9 million.
Alkaline Water Company Inc. (WTER) – WTER, which has been in the focus of the OTCQB markets for the last couple of weeks, is heading down today.
Most likely the reason the decline of WTER stock value is due to profit taking impulses, as the value of the stock has jumped up since WTER started building momentum at the end of last week.
Yesterday, WTER stock value jumped 8% to $0.86 per share on a higher than average volume of 5.5 million, thanks to the buying pressure produced by a press release issued by the company. In short, yesterday WTER announced that its flagship Alakaline88 product would be available through internet retailer Amazon.com
Today, being the end of the week, investors have deemed it a suitable time to take back some profits from the appreciation of WTER stock. Thus, at the moment shares of WTER stock are trading 8% lower at $0.795 per share on a higher than average volume of 1.4 million.
Titan Pharmaceuticals, Inc. (TTNP) – TTNP broke out today thanks to a press release which was published yesterday. This news lies in the root of today’s increased demand for the stock, which managed to break the resistance at $0.65.
Yesterday TTNP announced that the US Food and Drug Administration (FDA) had granted the request for a meeting to discuss Probuphine. The meeting was scheduled for November 19, 2013. The FDA had designated the meeting as a Type C meeting and had requested the submission of briefing materials by October 7, 2013.
The result of the announcement unfolded on today’s trading session, as investors managed to digest the news. As a result TTNP has generated one of the highest trading volumes in its recent history.
At the moment shares of TTNP stock are trading 13% higher at$0.689 per share on a higher than average volume of 1.2 million.
Nutranomics, Inc. (NNRX) – The value of NNRX shares is going up today following a press release issued by the company earlier today.
Today, NNRX announced that it was ready to ship the remaining balance of an outstanding purchase order from one of the world’s largest direct marketers of essential oils, which was valued at $405 thousand.
The announcement increased the demand for the stock today causing its share price to increase for the sixth day in a row. Currently shares of NNRX stock are trading 5% higher at $1.40 per share on a higher than average volume of 890 thousand.
Since it started trading on the OTC Markets, which was one week ago, NNRX stock has jumped from $0.80 to $1.40 per share.