Many investors are currently in fear of breadth, but what is breadth? Breadth is a measure of how many stocks are currently bullish versus how many stocks are bearish. Due to the way of calculating the averages, stocks may be fluctuating up or down without seeing the result mirrored in the mean. People are worried because since more stocks have been falling than rising, the average is bound to fall eventually. Let’s take a look at how penny stocks are going to affect the breadth and its average.
Progressive Care Inc (OTCMKTS:RXMD) is now balanced from its 800% surge back in late June. OTCMKTS:RXMD had a year high of $0.079 since August, 2014 on January 29th, 2015. The year low was $0.0016 on November, 24, 2014, also since August, 2014. As of August 11, 2015 at 2:06 PM, it is at $0.008 which is down 89.87%. This is also up 400% from the low. However, that same day is down 4.76%. As of 2:19 PM, RXMD was trading with a volume of 3,203,011.
FBEC Worldwide Inc (OTCMKTS:FBEC) is currently trading $0.0588 as of 2:28 PM on Tuesday, August 11th, 2015. The stock is down 8.13% from the opening of $0.06. On July 23, 2015, OTCMKTS:FBEC hit its 30-day (July 11th-August 11th) high of $0.107. As of right now it is actually at its low, down 45.06% from that point as of 2:30 PM on Tuesday. FBEC was also trading at a volume of 271,705 at that same time.
Oxis International, Inc (OTCMKTS:OXIS) has had a sporadic three month period (May 11th-August 11th). OTCMKTS:OXIS had a three month high of $0.0326 on May 11th, 2015. The three month low hit $0.014 on July, 20, 2015. As of August 11, 2015 at 2:37 PM, OXIS’s stock is at $0.01972 which is down 1.4% from the opening $0.01975. This is up 40.85% from the low. As of 2:42 PM, OXIS was trading with a volume of 482,296.
FreeSeas Inc (NASDAQ:FREE) is having a great day on Tuesday, August 11th. As of 2:50 PM, NASDAQ:FREE was up 29.51% at $0.6101. The day range hit as high as $0.95 which was a 69.6% increase since the opening of $0.56. FREE has had a very fluctuated year. Although FREE has been taking a large plummet over the last year, it looks to be rebounding. On August 6th, 2015, FREE saw a low of $0.4. Since then, it hit its high of $.095 on Tuesday, with a rise of over 137.5%. FREE is trading, as of 3:10 PM, with a volume of 6,017,677.