Today, the OTC Markets continue to surprise investors but in a negative aspect, as this time the OTCM ADR Index is siding down while the benchmark US indexes are rallying.
The OTCM ADR index started below the previous close right at the start of the trading session and has been gradually sinking down. At the moment the index is down 0.36% at 1,449.66. Yet, some of the market movers on the OTC Markets are performing well despite the general decline of the index:
Wild Craze, Inc. (WILD) – Today, WILD stock is the top penny stock market mover on the OTCQB market, as the stock has gone “wild” thanks to its ongoing expensive promotion.
Last week, we reported that WILD was featured in a market awareness campaign which had been sponsored by a third party called Witmak Systems Ltd for a total production budget of $800 thousand. The promotion was initiated on Thursday, Aug 15, and the same day WILD went up 13% to $0.385 per share on a higher than average volume of 535 thousand.
The stock kept climbing on the following day, which finished with WILD stock going up another 4% to $0.40 per share on a volume of 1.4 million. Compared with its monthly average of 40 thousand, the volume accumulated on Friday was thirty six times higher.
WILD continues to be in a hot spot today, as for the two hours since the opening bell it has already generated a trading volume of 1.3 million which is way above the monthly average. Moreover, WILD is presently hauled by a heavy selling pressure, causing WILD stock to surge 30% to $0.52 per share.
Curiously enough, investors continue supporting the stock despite the fact that last Friday it was announced that WILD had been included as a defendant in an ongoing civil action for violations of anti-spam rules.
Regardless of the warning that WILD stock may be involved in “devious attempts to separate innocent investors from their savings”, the same investors have rushed the stock today, running the risk of getting burnt severely, if it turns out that WILD has been involved in a real pump-and-dump scheme.
Today, WILD issued another press release, announcing that the company had opened a new sales and distribution center in Oakville, Canada. Meanwhile the promotion of WILD, which was initiated last week, continues, as new wave of newsletters touting the stock kept flooding investors’ inboxes during the weekend.
Online databases also show that today a new promoting party called Free Super Stocks has joined the advertising effort on WILD. The new promoter disclosed a compensation of $25,000 but didn’t reveal the sponsor of the campaign.
ImageWare Systems, Inc. (IWSY) – IWSY continues the rally which started on Friday. On Thursday last week, IWSY declined sharply, forcing the stock back down to its support level at $2.20 after the company reported not very impressive financial results for the second fiscal quarter 2013.
Last Friday, however, IWSY gained ground after surging 8% to $2.41 per share on a higher than average volume of 730 thousand. Today the stock continues going up without any fundamental support at hand.
Currently shares of IWSY stock are trading 4% higher at $2.50 per share on a lower than average volume of 275 thousand. So far IWSY has generated a trade value of 690 thousand which makes it one of the top market movers on the OTC Markets.
Meanwhile, IWSY insiders continue to dump shares on the market. Gruber & McBaine Capital Management LLC, one of the beneficial owners in IWSY, is now richer by $821 thousand after selling 328 thousand shares of IWSY common stock last week.
Soul and Vibe Interactive Inc. (SOULD) – Investors in SOULD remain hesitant today as the stock has been toggling up and down the previous close since the opening bell.
At the moment shares of SOULD stock are trading 1% higher at 1.92 per share on a below average volume of 332 thousand. SOULD has also generated a trade value of $640 thousand which has made it one of most actively traded penny stocks on the OTC Markets today.
At the beginning of last week SOULD stock experienced a detrimental decline after an 8-K filing officiated the reverse stock split which was previously announced by the company. Thus, on Monday SOULD lost 38% of its stock value on a below average volume of 258 thousand. Since then the stock has been consolidating around $2.00 per share waiting for the next fundamental trigger before it makes any considerable movement.