Penny Stocks on the Move on June 13: BIZM, AFFY, NVIV, NORX, XUII, MJNA
Biozoom, Inc. (BIZM) – Today, BIZM is again in the top list of most active stocks on the OTC markets, after generating a trade value of $2.44 million in the first hours of the trading session. BIZM continues to fly up as its stock pushed 2.13% higher at $2.88 per share on above average volume of 846 thousand. Yesterday the company announced the opening of a strategic sales and business development office in Agoura Hills, CA. The news sent BIZM stock up at an all time high of $3.30 per share in the first half of the trading session. However, the second half of the session was marked by a selling pressure which was most likely produced by investors’ profit taking impulse. Nevertheless, BIZM stock is rallying today but we are yet to see whether the stock will finish on a higher or lower ground at the end of the day.
Affymax, Inc. (AFFY) – Today, AFFY stock continues its rally from yesterday’s session as shares of the company are trading 7% higher at $1.24. So far more than 1.4 million shares of AFFY common stock have changed hands which is below the 3-month average. In fact, the rallying of AFFY stock has been happening on a gradually decreasing trading volume, which reflects the cautiousness of market speculators after the big plunge of AFFY earlier this year. Having just crossed the 50-MA from below, AFFY may give a technical signal which may bolster its current rally if it manages to remains above this line in the next couple of sessions.
InVivo Therapeutics Holdings Corp. (NVIV) – Today, NVIV has reached a trade value of $2.5 million. However, NVIV stock is experiencing a strong selling pressure which has reduced its share value by 12%. Currently shares of NVIV stock are trading at $3.65 on a volume of 670 thousand, which is two times higher than the monthly average. NVIV has been in a correction phase for the last three days after it hit a 52-week high at $4.50 at the end of last week. From a technical point of view, market speculators should keep an eye on the 50-MA which is currently at $3.20. NVIV has a market cap of $292 million and has a 52-week range of 4.75-1.25.
Norstra Energy, Inc. (NORX) – NORX is one of the most actively traded stocks on the OTCQB Market today as it has reached a trade value of $1.2 million. However, the stock is getting pummeled as its value has declined 22% to $0.6 per share. Last week NORX hit a 52-week high at $1.562 but after this peak the stock fell in a sharp correction phase. Today, NORX broke below the 50-MA and it is essential to see whether the moving average will turn into a resistance or support for the stock in the short term. The company hasn’t issued any press releases since June 3rd which has probably strengthened investors’ profit taking impulse. NORX has a market cap of $30 million and a 52-week range of 2.06-0.35.
Xumanii (XUII) – Today the recent pick of Awesome Penny Stocks, Xumanii (XUII), is up 16% at $0.256 per share on a volume of 4.7 million. In addition, XUII has also generated a trade value of $1.1 million. It seems that the up move was produced by a press release, which was published earlier today, announcing that XUII was expanding its social media reach and had completed the development of the Xumanii Facebook Promoter Application. Two days ago XUII bounced off its 200-MA and yesterday it penetrated above the 50-MA.
Medical Marijuana, Inc. (MJNA) – MJNA is actively traded on the Pink Sheets Market today as it has already generated a trade value of $656 thousand. However, the stock is mostly sold out, as it is trading 4% lower than the previous close at $0.125 per share on below average volume of 5.3 million. MJNA has been in a downtrend since it made a double top pattern and a 52-week high in February this year. Currently the stock is trading below the 50-MA and one month ago it also broke below the 200-MA. The company hasn’t issued any substantial press releases recently which is one of the reasons for the decreasing demand for MJNA stock. The company is currently valued at $121 million and has 935 shares issued and outstanding , 411 million of which comprise the company’s public float according to the OTC Bulletin Board.