Penny Stocks on the Move on July 29: XUII, SOUL, AFFY, PMCM
Xumanii (XUII) – Once again XUII is leading the OTC most active lists as the stock is currently rallying after a sharp decline which was produced by OTC’s decision to mark the company with a caveat emptor sign.
The current rally of XUII seems mostly technical in nature as the stock has actually bounced off its 50-MA. However, it must be noted that during the weekend XUII was featured in a new promotional campaign led by Awesome Penny Stocks and Penny Stocks Expert, which might have also helped the up-move of XUII today.
Apparently stock promoters have not been disturbed by the fact that XUII has just been marked with a skull and cross bones, so they keep maintaining their short term price target of XUII stock at $1.50. In addition, Awesome Penny Stocks went so far as to claim that XUII “will continue its ascent past $3 during the month of August.”
Today, XUII opened the trading session with a gap up at $0.32 per share and shot straight up to an intraday high of $0.37 per share. Currently shares of XUII stock are trading 26% higher at $0.36 per share on a lower than average volume of 15.7 million.
So far XUII has generated a trade value of $5.5 million which makes it one of the top traded penny stocks on the OTCQB market, a place which XUII has championed since it was promoted for the first time by Awesome Penny Stocks in May this year.
Soul and Vibe Interactive Inc. (SOUL) – Last week was absolutely explosive for SOUL whose share price skyrocketed on every single trading session of the week. Thus, SOUL stock value increased more than seven times over the course of the week on a heavy trading volume.
However, today it seems the time has come for SOUL to enter a correction, which could not be stopped by a freshly issued corporate update which served a news that is generally accepted positively by the market.
Currently shares of SOUL stock are trading 15% lower at $1.26 per share on a ten times higher than average volume of 3 million. SOUL opened the trading session with a gap down at $1.34 and briefly dipped to an intraday low at$1.07, but in the last trading hour SOUL shortened the gap from the previous close.
Today the company announced that its President and CEO, Peter Chiodo, had condescended to cancel 64 million shares of his own beneficial ownership in SOUL which would result in an increase of the ownership stake of all other common stakeholders. In other words, this would also reduce the number of outstanding shares of SOUL common stock from 109 million to 46 million.
Such changes in the corporate structure of public companies are generally accepted positively by market players, but today it seems that the effect has been suffocated by the market’s corrective forces.
Affymax, Inc. (AFFY) – Today AFFY has generated a trade value of $1.6 million by which it has claimed a place in today’s OTC most active lists.
Penny stock traders might remember that AFFY was delisted from NASDAQ at the beginning of June which brought havoc to the company’s stock value, causing it to drop for $2.1 down to $0.84 per share in the course of a single week.
However, AFFY has been slowly regaining value for the last couple of weeks. The stock has been trading without any recent corporate updates at hand, so it may be assumed that it is mostly technical factors that drive the stock these days.
The last two trading sessions were positive for AFFY stock, which managed to penetrate the 50-MA and climb from $1.19 to $1.50 per share during this period. Today, however, it doesn’t seem that there is enough demand for AFFY stock so as to bring its share price further up the charts. Therefore, at the moment AFFY is trading 1% lower at $1.44 per share on a below average volume of 1.2 million.
Novice penny stock traders might find it interesting to check out our previous coverage on AFFY, which focuses on the dramatic events that plagued the company at the beginning of 2013.
Primco Management, Inc. (PMCM) – Just as PMCM was dangerously heading to the triple zeros abyss, the stock bounced up surprisingly in the middle of July and today penny stock speculators have been witnessing another speculative spike by PMCM stock.
Currently shares of PMCM are trading 92% higher at $0.0073 per share on a ten times higher than average volume of 218 million. The spark which charged the current rally of the stock was the announcement which surprised penny stock traders earlier today.
In a press release issued via Business Wire, PMCM announced that it had completed the repayment of $350 thousand convertible notes to both Redwood Capital and Magna through periodic conversion of its common stock.
Another interesting event that took place today, was an SEC filling which showed that an entity called WHC Capital LLC. had acquired a 9.5% beneficial ownership in the company.
Penny stock traders might remember that PMCM stock value had plummeted since it started trading in early February to the extent that the company is currently valued at only $739 thousand. This low market capitalization may explain some short term rallies of PMCM stock but it might take much more efforts for the company’s management to bring some sustainable value to the stock in the long term.