Penny stocks can be fickle to say the least. You’ve got penny stock promotions, volume based trades, small float stocks, or even penny stocks with news that seem to explode out of nowhere. This morning there have been several trending penny stocks, which have seen activity and though they are popular, some are not delivering the gains that many had expected.
Take the penny stock promotion that went on COM GUARD COM INC COM (OTCMKTS:CGUD) this stock was a penny stock promotion undertaken by several email, text, and chatroom websites touting the company for its “new revenues” and low stock price. Certainly one would assume that for such a low price, the stock would run all day however like several penny stock promotions, this one saw an ill fated sell-off early in the morning. After gapping up more than 120% at the opening bell, sheepish traders fell victim to an unsuccessful stock promotion after COM GUARD COM INC COM (OTCMKTS:CGUD) hit its high of the day within the first 7 minutes of trading this morning. It’s important to know that many stock promotions are paid penny stock promotions and many can be favorable but the obvious flip side is what has been seen with CGUD this morning.
Another promoted penny stock on Tuesday 12/15/2015 has been 22nd Century Group Inc (NYSEMKT:XXII). This small cap stock has seen some of its highest volume in more than 5 months. After opening at a price of $1.29 the stock rallied to highs of $1.52, which equated to a total move up of nearly 18%. When you consider what the annual return of the S&P 500 is, 18% in the course of a morning might not appear to be that bad. In the company’s last announcement, 22nd Century Group Inc (NYSEMKT:XXII) CEO stated, “The new 22nd Century laboratories will enable us to continue to grow our patent portfolio – but at substantially reduced costs…What’s more, using our own labs will enable us to own, outright, the patents that we develop rather than having to license them from sponsored third-party researchers.” This statement was made in reference to the company’s most recent move to open specialized laboratories in Western New York dedicated to new scientific research at substantially lower costs than sponsored research projects at third-party universities.
Other penny stocks didn’t receive promotions from any newsletters but rather, were fueled by social excitement following company events and morning news. Ascent Solar Technologies, Inc. (NASDAQ:ASTI) is one of these companies. This morning they announced that Ascent Solar Technologies, Inc. (NASDAQ:ASTI) was awarded a US Patent pertaining to the company’s solar manufacturing process. This patent announcement follows in the footsteps of the company receiving their second R&D 100 award and an overwhelmingly positive response during the Defense Energy Innovation Summit and Showcase regarding the company’s latest MilPak™ fully integrated portable power product. So far the stock has enjoyed a health amount of trading volume furthered by an increase in price by as much as 15.9%. It’s morning price range was between $0.1751 (the opening price) and $0.203 (the high price before Lunch).
Legacy Ventures International Inc (OTCBB:LGYV). Upon its acquisition of RM Fresh Brands of Toronto, Canada, Legacy Ventures International Inc (OTCBB:LGYV) is in the food and beverage distribution business of innovative, trend-setting products across North America. With a focus on sustainable, category changing consumables, RM Fresh Brands represents a portfolio of highly desirable brands, including Boxed Water.
VBI Vaccines Inc (NASDAQ:VBIV). The company has undergone several key changes including a planned merger with SCIVAC THERAPEUTIC COM (OTCMKTS:SVACF). “We believe that our proposed merger with SciVac would bring a commercial vaccine together with unique vaccine development and manufacturing capabilities. We look forward to potentially combining SciVac’s assets and talent to create what we believe will become a leading global vaccine developer,” stated Baxter in a recent corporate announcement.
This planned merger also brings to the table some of the biotech industry’s notable veteran investors including Dr. Phillip Frost. This is from being SciVac’s majority shareholder, at 25% (14% post-merger) through Opko Health Inc. (NYSE:OPK). Furthermore, since hitting lows in October of $2.25, shares of VBI Vaccines Inc (NASDAQ:VBIV) have rebounded by as much as 27% with volume becoming increasingly more consistent over recent weeks.
Progressive Care Inc (OTCMKTS:RXMD). Earlier this month, the company reported record November pharmacy revenues. This is in addition to Progressive Care Inc (OTCMKTS:RXMD) announcing that they have successfully concluded the company’s 3a10 transaction removing debt from its financials. This also signaled that the company had relinquished dilutive financing and opening a brand new market that the stock has not seen in more than a year. A previously released analyst report put a short term price target of $0.03 for the stock.