Despite the market’s reaction to Chinese stocks dropping even farther, small cap stocks and penny stocks have continued to blaze new trails. Fueled by market momentum, stock promotions, and earnings news many of these lower priced stocks have been considered strong buys by many investors.
Cannabis Science Inc (OTCMKTS:CBIS) was off and running as mid morning volume ignited an early run. After opening the day at $0.0161 the stock has run to highs of $0.0324 marking a run of more than 100% from the opening bell. Fueled by uplisting news, shareholders responded favorably to the news. Furthermore the company stated in a Tuesday press release that it will undertake a multi-million dollar capital raise in order to proceed further with FDA and other clinical drug development programs.
FBEC Worldwide Inc (OTCMKTS:FBEC) has also gotten off to a strong start during morning trading. The stock jumped from an opening price of $0.04 and sprinted to highs of $0.0706 following an interview of the newly appointed CMO, Jason Spatafora by a contributor on Seeking Alpha (http://bit.ly/1Pio3SF). Shares of the stock have seen highs over the last 45 days of $0.14 and investor sentiment has become more favorable as the company is set to release its first Hemp juice energy shot to the market.
HIGH PERFORMANCE (OTCMKTS:TBEV) is another beverage stock taking off on Tuesday. During the beginning of August the company announced that Southeast Bottling has completed the FDA guideline testing that was previously required of them for the High Performance Sports Beverage. Since then the stock has continued to climb and volume reached a break point on Tuesday morning. Overall since August 5 the stock has climbed up by as much as 800% after hitting highs of $0.0018.
VGTel Inc (OTCMKTS:VGTL) has hit scanners Tuesday afternoon following a huge jolt in promotion from several email newsletters and continued momentum from the last week of trading. In fact since last Monday at an opening price of $0.0062 the share price for VGTL has jumped by as much as 368% when it hit highs today of $0.029. The press wires have been quiet for this penny stock as of late. The last actual announcement was back in March.