Shares in Apple (AAPL) traded lower Tuesday after rumors were swirling around the tech giant is looking to reduce its dependency with competitor Samsung, especially in the mobile chip area. If rumors are true then Intel (INTC) is the likely beneficiary of this switch would likely be an exclusive agreement at an exclusive plant between Intel and Apple. Many experts agree that Apple would be wise to diversify their suppliers to remain competitive in pricing power.
The Dow Jones Futures were indicating lower ahead of the bell on Wall Street after a 7 day rally that has left these markets at all-time highs across the board. The fact is this comes at a time when investors and experts alike are more concerned than ever about the overall economy and a triple dip recession, just like what we are seeing in Europe. Investors on the sidelines are keen to see if this rally can continue through this week with some analysts calling for Dow fifteen thousand by the end of the month. There are equally as many analysts predicting the classic Bear Trap with big down days and a slide in the markets to follow.
AMR Corp (AAMRQ) was once again the most heavily traded stock in the OTC market to close trading yesterday as the company has continued to move higher, now unbelievably towards $4.00 per share. Shares of AMR Corp closed yesterday at $3.70 per share, this merger with US Airways has given out more gains than expected to shareholders. We have been reporting on AMR Corp (AAMRQ) since it was trading at 0.60 cents per share. For a company in bankruptcy to return over 600% just goes to show you that headline news don’t always win the day. Stay tuned or sign up at our website to receive more companies like this.
Green Innovations (GNIN) was once more the second most heavily traded stock in the small cap markets once more with shares trading over $16 million on the street and shares seeing one of the best recoveries in recent times for a micro-cap name. Green Innovations (GNIN) was also trading to the upside by 15% after shares climbed from $1.28 last week when we released our last report to close at $2.18. Again in similar fashion to AMR Corp as we have followed this name over the last week it has jumped more than 150% from the lows.
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Swingplane Ventures (SWVI) has been trading to the downside consistently since it traded all the way up to almost $1.00 in price, however did manage to bounce back in trading yesterday to close higher by 31% on the day on $4 million in trading volume in the OTCQB market. We will stay with SWVI to see if the stock can build on gains through the rest of the week.
A.P. Pharma (APPA) was back in the news to close trading and head into today’s session on the back of a decent volume day yesterday for the stock. Shares in APPA moved higher by 11% on almost $2 million in volume which was higher than we have seen in a while in the company.
MiMedx Group (MDXG) was back in the top five volume stocks also going into trading on Wednesday with shares in the green once more and also trading multiple millions in terms of trading volume. Shares were relatively flat just higher by 1% on the day and MDXG closing at almost $6.00 per share.
Regardless of what’s going on in the mainstream we will always keep you updated and look to be value added. We hope you have enjoyed our coverage; we will be back to you tomorrow with our daily look at the OTC markets.
We track the volume and keep in touch with any increasing trends to the upside or downside. We also cover the top stocks on the OTCQB, OTCQX, and the Pink Sheet markets.
If you are looking to know what’s going on with these companies on the OTC and in addition receive weekly picks on stocks that ClubPennyStocks features, simply sign up at our website for free. Regardless of what’s going on in the mainstream we will always keep you updated and look to be value added. We hope you have enjoyed our coverage; we will be back to you tomorrow with our daily look at the OTC markets. Read disclosures here.
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