Penny Stocks on the Move on July 26: SOUL, XUII, LQMT
Soul and Vibe Interactive Inc. (SOUL) – This week SOUL has registered a remarkable momentum which found expression in a sevenfold increase of the company’s share price.
Thus, SOUL opened the week at $0.2 per share and is now 570% higher at $1.34 per share. Since the start of today’s trading session SOUL has risen 16% on a much higher than average volume of 1.6 million. The trade value generated so far by the stock is $2.16 million.
During the week SOUL experienced an even higher trading activity on Wednesday and Thursday. Yesterday the stock hit a record high trade value after generating a dollar volume of $5.14 million, while the share price jumped 61% on a share volume of 5.3 million.
On Wednesday, SOUL announced that it had contracted Michael Hess, a co-founder of Rockstar Games, as its financial reporting and internal control consultant. However, this hardly seems the sole reason for the explosion of SOUL stock.
The following day a penny stock promoter called Penny Stocks Solutions started spreading a newsletter with trade alerts on SOUL and VIBE noting the remarkable explosion of the two stocks. According to the disclaimer the promoter had not been paid for distributing this advertisement.
As SOUL stock has already made this remarkable jump without any officially known catalyst it may not be surprising if the recent movement of SOUL share price attracts the attention of the SEC as it has already happened with one of the most popular penny stocks on the OTC Markets – XUII.
Xumanii (XUII) – Speaking of XUII, it must be admitted that shareholders in the company were surprised very unpleasantly today after the stock was marked with a caveat emptor sign.
The most probable reason for XUII to receive the skull and crossbones is the fact that the company’s stock has appreciated significantly since its initiation on the OTC Markets. The problem is that since the start XUII has been constantly featured in promotional campaigns, especially considering the fact that one of the promoters was the notorious Awesome Penny Stocks.
Thus, the share price climbed from $0.15 per share to $0.75 mostly on the hype created by the incessant market awareness campaigns and a couple of announced contracts with several music artists. The thing is XUII has not managed to explain how they are going to achieve profitability and it was not even clear how the company was going to compensate the contracted signers.
Nevertheless, penny stocks traders were not in the mood of asking questions and had been supporting the stock until the end of last week when XUII hit a 52-week high at $0.75 per share. This week, however, an avalanche of sales orders swept away a big chunk of XUII stock value.
On Monday the stock experienced a devastating selling pressure which pressed the stock 44% down at $0.3721 per share on a huge volume of 65 million, equaling a trade value of $35 million. The stock continued losing value in the following days.
After XUII opened with the black mark today, its share value headed straight down and at the moment XUII s is trading 23% lower at $0.30 per share on a volume of 10.3 million. With this move XUII penetrated the 50-MA today so it is very likely that the time has come when XUII investors will have to suffer the bitter taste of bursting overly pumped companies.
Liquidmetal Technologies, Inc. (LQMT) – LQMT, which has got into the focus of the OTC Markets these day, is currently trading 3% lower at $0.175 per share on a lower than average volume of 2.6 million.
The share price of LQMT exploded this week after a press release concerning the probability that Apple may implement more liquidmetal in its future devices produced a big interest towards LQMT which is already providing Apple Inc. with liquidmetal for one part of its iPhone.
Naturally after such big spikes occur on the OTC Markets they correct over time, so after the buzz around the announcement subdued, the share value of LQMT stock slid into a correction.
At the beginning of the week, LQMT hit a new 52-week high at $0.23 per share but at the end of the trading session it had declined down to its previous close. Truth be told, if no additional material gets release to keep investors interested in LQMT stock, it is very likely that the correction phase will extend in the next couple of days as well.