Shares in Swingplane Ventures (SWVI) finally had a pullback in trading after the stock started trading to the downside before heavy volume came into the name pushed it down either further. SWVI has been on a strong run with shares rising around 500% in price over the last few weeks, however eventually these trades are bound to pull back at some point with many investors having made large potential trading profits. We will continue to track shares of SWVI to see if the stock can recover going into the weekend and into next week’s trading on Wall Street. SWVI was lower by 53% on $38 million in volume traded.
Joy Global (JOY) traded more than double the normal average volume on speculation that Swedish Firm Atlas Copco may be sniffing around for a value buy. Joy Global shares trade on the NYSE and have been the subject of much speculation over the last year that the company could be a potential takeover target.
Shares in AMR Corp (AAMRQ) climbed back a further 5% after a min pull back in the previous day’s trading. The company is still trading extremely heavy volume compared to its normal trading average obviously due to the ongoing closing of its merger with US Airways. AAMRQ traded over $45 million today making it the largest volume trade in the over the counter market.
It really goes to show that if you do your research there are substantial profits to be made trading over the counter stocks and in the case of AMR Corp even a company in bankruptcy has ended up becoming a positive winner for many traders. Even in the case of SWVI whose shares were cut in half today
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Green Innovations (GNIN) made it three big down days in a row and it looks like hope for that company to trade back in the short term are unlikely. GNIN is another example of a stock which gave potential for bug triple digit gains; however shares have been taken apart over the last 3 trading sessions. Shares were lower by 32% to close the session yesterday.
Medical Marijuana (MJNA) also follow through on previous day’s losses with its shares pulling back 23% on over $8 million trading in the stock. MJNA still remains getting a lot of press surrounding the stock however the volume and price performance has suffered also this last week.
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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