Penny Stocks on the Move on July 9th: XUII, ARTH, NTEK, SGLB
Xumanii (XUII) – XUII stock made a strong start today as it opened the session with a gap-up at $0.38 and subsequently went further up the chart. Currently shares of XUII stock are trading 8% higher at $0.39 per share on a volume of 4.2 million.
With this move XUII seems ready to retest the recent all-time high at $0.425. Yesterday the stock closed the session on almost two times higher than the monthly average volume of 22 million after posting a gain of 18%.
The bullish spark that is currently in charge of XUII stock was produced by the announcement that the company had signed a deal with a “multitalented recording artist” Ms Teyana Taylor. The overall hype induced around the company since it got promoted by Awesome Penny Stocks in early May has allowed the company to maintain a market cap of over $100 million over the last couple of months.
Presently XUII holds a market capitalization of $123 million which has been substantiated mostly by speculative press releases and market awareness campaigns.
Arch Therapeutics, Inc. (ARTH) – After registering a significant gain at the end of the last trading session, ARTH is again in a bullish mode today or at least in the first trading hour of the current session.
ARTH gapped up at $1.30 and climbed to an intraday high at $1.32 per share shortly after the opening bell. So far the stock has managed to remain above the previous close and is currently trading 5% up at $1.30 per share on a two times higher than average volume of 1.3 million.
After the big appreciation of ARTH stock from yesterday, the company reached a market capitalization of $82 million.
Yesterday the company announced the appointment of a new CFO and COO. The same day ARTH filed an 8-K form to attest the appointments, which revealed that Mr. William Cotter, the new COO of the company, would receive an annual salary of $175,000 and will be eligible for an annual bonus of 20% of his salary and for an equity grant at the discretion of the Board of Directors.
On the same day two additional filings were registered with the SEC. They showed that two entities, Terrence Norchi and Avtar Dhillon, had acquired beneficial ownership in the company of 19.5% and 12.2% respectively.
NanoTech Entertainment, Inc. (NTEK) – After consolidating its 52-week high at $0.123 during the last trading session, NTEK is currently undergoing a correction which, as we mentioned yesterday, was very likely to happen soon.
Currently shares of NTEK stock are trading 16% lower at $0.092 per share on a two times higher than average volume of 12.5 million. Today it appears that investors are taking back profits after the company achieved a record high market value of $67 million.
The correction phase could not be stopped by the press release which was issued by the company earlier today. It announced that NTEK had entered into a long term sponsorship agreements with multiple top level mixed martial arts (MMA) fighters.
The news update only managed to support NTEK stock for a short while after the opening bell when NTEK surged episodically above the previous close to an intraday high of $0.125 per share. At present, however there is an ostensible selling pressure over the stock which is drawing it down the charts.
Sigma Labs, Inc. (SGLB) – SGLB continues to build momentum as its stock is registering another bullish run today. SGLB opened with a gap-up at $0.077 and from this point it has launched to an intraday high at $0.081 per share.
Currently shares of SGLB stock are trading 12% higher at $0.078 on a volume of 11.7 million, which is ten times higher than the monthly average. Until now, the total trade value generated by SGLB has reached $900 thousand.
Over the course of the last two weeks SGLB has made a spectacular jump from $0.03 to $0.08 per share which represents an overall increase of 166%. The momentum ride is happening regardless of the fact that the company hasn’t issued any news updates or official filings over the last month.
Penny stock message boards suggest that SGLB has attracted the attention of market player with its good management, multiple contracts, the takeover frenzy in the field of metal and plastic and so on.