Today the market for penny stocks has taken off in a big way. Even with the holiday weekend quickly coming upon us and fears of Greece continuing to blast the airwaves, high volume, high volatility traders are engrossed in the markets. Today there have been several penny stocks that have seen increases in volume, continued bull trends, and even several hitting intra day breakout highs.
Enviro-Serv Inc (OTCMKTS:EVSV) has hit a big stride this morning after announcing milestone news that the company has closed on its franchise agreement with Pestmaster Services. This now makes Enviro-Serv’s subsidiary, XTerminate and operating arm of the franchise brand now working as “Pestmaster Tampa”. The mix of news and market momentum has taken the stock from lows of $0.0007 to highs on Wednesday of $0.001 and marks a 30% move in price.
Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) has also caught a wave of trading during the early morning market session on Wednesday. Following a slew of buying that began last Friday, shares of TPAC have increased in price by as much as 40%. Trans-Pacific released a shareholder update on Tuesday, which stated that the Company will be continuing to streamline the company which includes the extinguishment of the remaining debt on the books, remodeling efforts toward its assembly facility, as well as clearly stating that it has no intentions of increasing its authorized share count or undergoing a reverse split in the near future “unless such a reverse split would lead to a listing on Nasdaq.”
Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) seemed to have gained traction amidst Wall St.’s outlook on Greek relations. In a report published Monday, Morgan Stanley analyst Fotis Giannakoulis assured investors that the Greek crisis “has no direct impact on shipping companies.” The only headwinds to Athens-based maritime firms, he said, would come from side effects on the global economy. As a result, attention on Greek based shipping firms has increased and share prices have reacted favorably. Wednesday, shares of Seanergy Maritime Holdings Corp. rose by as much as 85.7% .